Asia Bizz: Sprint-Nextel Witness Further Loss During The Third Quarter
Sprint Nextel Corporation is witnessing further loss in is company shares during the thirds quarter. Share prices of the company fell by more than 30 cents per share in the market trading. But despite the loss the company is suffering in the share market, the total revenue rose by 1% to $8.2 billion.
The Sprint Nextel Corporation is the third largest wireless communication in the US and is performing well when it comes to revenue surplus. One of the main reason the company has suffered loss in share prices, is because the customer phones are being upgraded by the company, so that they can be used on other networks.
The company has already raised its subsidy levels, as a move to successfully launch 4G enabled phones in the market. But some shame too came towards company, as Spring lost some 107,000 customers during this quarter, which adds to an annual 801,000. Even though it losses these customers, Sprint is able to grab 450000 customers without annual contracts every year.
