This quarter has not been so good for Sprint, Quarterly results for Sprint came in and despite an 8 percent gain in wireless revenue in Q2 YoY, company is still in a net loss of $1.6 billion 150 percent increase over last year’s loss. Culprit behind this is Nextel iDEN network whose shutdown has caused such losses for Sprint. Along with the shutdown, company lost more than half of its postpaid iDEN network customers.
Recently the company was acquired by Japanese wireless provider SoftBank for hefty $21.6 billion with added funding to help Sprint’s LTE transition. With this strategy company has till now modernized 20,000 LTE sites and plans to offer LTE service to 200 million people by end of this year.