RadioShack Declares Bankruptcy, to Sell Stores to Sprint
RadioShack today filed for Chapter 11 bankruptcy protection and signed an agreement to sell approximately 1,750 of its stores to Sprint. Under the terms of RadioShack's Chapter 11 filing, RadioShack will sell the stores to Sprint and General Wireless, a subsidiary of one of RadioShack's major investors. Moving forward, these stores will be co-branded Sprint and RadioShack, with Sprint being the primary brand. Sprint will own about 30% of the real estate within each store to sell Sprint, Boost Mobile, and Virgin Mobile USA products. The remaining 70% will be set aside for RadioShack to sell its own branded gear and other electronics. Sprint did not say what will happen to the AT&T, GoPhone, Net10 Wireless, Verizon Wireless and Tracfone phones that are currently offered by RadioShack. Presumably they will be no longer be sold. Sprint currently has more than 1,100 company-owned retail stores, which would more than double if the transaction is approved. RadioShack listed about $1.2 billion in assets and $1.39 billion in debts. A bankruptcy court will have to approve RadioShack's plans before Sprint can make its purchase official.
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In two weeks, the LG G8 ThinQ will be offered by all major US carriers, with several offering major discounts at launch. This flagship phone from LG has a unique 3D depth camera on the front, supporting mid-air gestures, hand vein scanning, and 3D face scanning.
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Kyocera's US phone lineup is down to just rugged phones these days, where they compete with Sonim. Kyocera's been at this for a while, though, so the DuraForce Pro 2 is building on quite a bit of experience.
Feb 20, 2019
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