Sprint Nextel reports USD865 million loss
The company said it lost a total of 75,000 subscribers during the quarter, but noted that some parts of its business - particularly pre-paid users - performed well, rising by 348,000 in the three month period. However, the group’s Nextel iDEN network lost nearly 447,000 customers while its CDMA network shed 131,000 post-paid users.
Sprint is banking on the success of its 4G network and its majority ownership of Clearwire, which is rolling out a nationwide WiMAX network. The deployment of the network is accelerating, currently covering nearly 40 million people, a figure which is expected to rise to 120 million people by the end of the year. Sprint noted that the 4G service was rolled out in Houston in the first quarter while new deployments are scheduled for Boston, New York, San Francisco, Kansas City, and Washington DC.
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