Sprint to Risk $20 Billion on Apple iPhone
Oct 3, 2011, 1:44 PM by Eric M. Zeman
According to sources cited by the Wall Street Journal, Sprint has committed itself to purchase 30.5 million Apple iPhones over the next four years. Based on the current full retail cost of the iPhone, the agreement amounts to about $20 billion. The Journal's sources call the deal a "bet-the-company kind of thing" that will likely lose Sprint money ($1.5 billion in profits) until 2014. Sprint's board signed off on the deal believing that without it the company has no other way to compete with AT&T and Verizon Wireless. Sprint CEO Dan Hesse has said in the past that the carrier's lack of growth in recent years can be attributed to its lack of the iPhone. The Journal's sources also indicated that they believe Sprint will offer the iPhone with unlimited data plans, contrary to what AT&T and Verizon do. Apple and Sprint did not confirm the Journal's story.
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Not even the iPhone can save Sprint
how about spending that 20 billlions improving the networks instead?
people don't care how hot is your phone, if coverage sucks people will stay away!
Blame it on the iPhone...
Sprint and Verizon were rated as the most satisfying carriers, followed by T-Mobile.
Combine this with the fact that Sprint has the cheapest plans except for T-Mobile and the...
Money would have been better invested into Sprint's Network!
Does this mean i can finally have 4G
The greatest risk is not ever taking one...