Entries in Sprint (9)


Japan's Softbank Reaches $20.1B Deal to Buy 70% of Sprint

David Paul Morris/Bloomberg via Getty Images(OVERLAND PARK, Kan.) -- Sprint Nextel Corp. announced on Monday it has reached a $20.1 billion deal with Softbank that will give the Japanese wireless provider a 70 percent stake in the company.

The deal consists of $12.1 billion being distributed to Sprint stockholders and $8 billion of new capital "to strengthen Sprint’s balance sheet," Sprint said in a statement.

"SoftBank’s cash contribution, deep expertise in the deployment of next-generation wireless networks and track record of success in taking share in mature markets from larger telecommunications competitors are expected to create a stronger, more competitive New Sprint that will deliver significant benefits to U.S. consumers," Sprint said.

The deal will give Sprint, the number three U.S. wireless provider, a much needed financial boost and put it in a position to compete with larger rivals Verizon and AT&T.  It will also allow the company to pay down billions of dollars in debt and expand its next generation wireless network.

"This is a transformative transaction for Sprint that creates immediate value for our stockholders, while providing an opportunity to participate in the future growth of a stronger, better capitalized Sprint going forward.  Our management team is excited to work with SoftBank to learn from their successful deployment of LTE in Japan as we build out our advanced LTE network, improve the customer experience and continue the turnaround of our operations,” Sprint CEO Dan Hesse said.

The deal has been approved by the Boards of Directors from both companies but is still "subject to Sprint stockholder approval, customary regulatory approvals and the satisfaction or waiver of other closing conditions" before it is completed, Sprint said.  Both companies expect the transaction to be closed sometime in mid-2013.

Copyright 2012 ABC News Radio


Japanese Wireless Provider to Take Over Sprint?

David Paul Morris/Bloomberg via Getty Images(NEW YORK) -- Sprint may soon be controlled by one of Japan's largest cellphone providers.

In a statement Thursday, the number three U.S. wireless provider said that it is currently in talks with Softbank "regarding a potential substantial investment by Softbank in Sprint."

The stake would give Sprint a much needed financial boost and provide Softbank with a significant presence in the U.S., shaking up a wireless market that's been dominated by AT&T and Verizon.

Sprint did not provide any further details but said "such a transaction could involve a change of control of Sprint."

Copyright 2012 ABC News Radio


Report: iPad 3 With Verizon, AT&T LTE Expected in Early March

David Paul Morris/Bloomberg via Getty Images(NEW YORK) -- The iPad 3 reports just keep flowing in. The Wall Street Journal reports that versions of the forthcoming tablet will be available with AT&T and Verizon LTE, which is capable of providing speeds as fast as Wi-Fi connections.

Like the LTE tablets and phones sold by AT&T and Verizon, the new iPad is said to fall back on the slower 3G network if there’s no LTE service in a particular area. The Wall Street Journal does not detail the service plans or agreements; but unlike the other tablets sold through the carriers, Apple doesn’t require a contract when purchasing a 3G iPad through Verizon and AT&T.  

This would mark the first time that Apple has sold a product with the higher speed 4G connection.

There’s also no word on whether there will be Sprint or T-Mobile versions. While T-Mobile is the only major U.S. carrier not to offer the iPhone with its service, Sprint is the only carrier to offer unlimited data for Apple’s phones. All four carriers would not comment on the next generation iPad rumors.

In addition to the aforementioned LTE addition, the next iPad is rumored to have a higher resolution display – double the pixel count of the current iPad – and a faster processor. A number of technology blogs have reported that Apple will hold the iPad announcement March 7.

The Journal is also reporting that Apple is working on a smaller, 8-inch version of the iPad, although that version is not expected to launch until later in the year.

Copyright 2012 ABC News Radio


Report: Sprint to ‘Bet the Company’ on New iPhone

David Paul Morris/Bloomberg via Getty Images(NEW YORK) -- Amid the frantic rumors in advance of Apple’s Tuesday announcement of its new iPhone, there’s this from The Wall Street Journal: that Sprint, the No. 3 cellular provider in America, is all but betting on the company offering the iPhone to customers.

According to the Journal, Sprint’s CEO, Dan Hesse, told his board the company “would have to agree to purchase at least 30.5 million iPhones over the next four years — a commitment of $20 billion at current rates — whether or not it could find people to buy them, according to people familiar with the matter.”

That would mean Sprint would, at best, not break even on the deal until 2014, said the Journal. But the company may have no choice. It has been sinking for five years. Not being able to offer the iPhone is “the No. 1 reason customers leave or switch,” Hesse said at an industry conference in September.

Sprint Nextel trudges along behind market leaders Verizon Wireless and AT&T — and AT&T is trying to merge with T-Mobile, the No. 4 company. The iPhone could make a big difference. Bill Choi, an analyst for Janney Capital Markets, was quoted Monday as saying that Apple could ship 107 million iPhones next year.

Copyright 2011 ABC News Radio


Sprint Rumored to Offer Apple Unlimited Data Service Plan

Don Emmert/AFP/Getty Images(NEW YORK) -- Sprint Nextel Corp. may be the latest wireless carrier to team up with Apple Inc. in a unique way in an attempt to distinguish itself from rivals AT&T and Verizon Wireless.

Bloomberg News reports that Sprint is planning to offer Apple’s iPhone 5 unlimited data service plans, beginning in October.

Under the deal, Sprint—the third-largest U.S. wireless carrier—will become the country’s only operator to offer the iPhone unlimited data service for a flat fee in an effort to pull customers away from AT&T and Verizon Wireless and to Sprint instead.

Kansas-based Sprint has reported sales losses for 15 consecutive quarters as it has struggling to compete against larger rivals.

Copyright 2011 ABC News Radio


Sprint to Start Selling iPhones in October?

DON EMMERT/AFP/Getty Images(NEW YORK) -- Sprint Nextel Corp. will reportedly become the latest wireless provider to carry Apple's iPhones, joining the ranks of AT&T and Verizon.

Citing people familiar with the matter, the Wall Street Journal says the iPhone will be available to Sprint customers come mid-October.  The nation's third largest wireless carrier will get to sell the iPhone 4 -- Apple's current model -- and the new version of the cellphone, the iPhone 5.

AT&T and Verizon will also begin selling the iPhone 5 at the same time, two people with knowledge on the matter told the newspaper.

Copyright 2011 ABC News Radio


Sprint and Motorola Launching More than 10 Devices in 2011

ABC News Radio(NEW YORK) -- Sprint and Motorola are renewing their relationship in a deal that will see them launch a number of new Motorola devices together, according to a joint statement from the companies.

Sprint, along with its prepaid brands -- Boost Mobile and Virgin Mobile USA -- plans on releasing more than 10 new wireless devices by the end of 2011.

“We are excited to be partnering with Sprint to announce a new portfolio of innovative, differentiated Android-based products that make the mobile experience better for people -- whether at home or at work,” said Sanjay Jha, chairman and chief executive officer, Motorola Mobility. “These devices showcase our deep insight into consumer needs and harness the power of Sprint’s networks.”

Sprint and Motorola launched two of the devices Thursday -- the Motorola Photon 4G and the Motorola Triumph.  The Photon is Motorola's first Sprint 4G device, while the Triumph is the first Virgin Mobile USA device by Motorola and will feature a touchscreen and two cameras.  

The two devices will be available to Sprint and Virgin Mobile USA customers this summer.

Recently unveiled devices include the Motorola Xoom -- a tablet computer -- and the Motorola XPRT smartphone.

Among other coming attractions are the  Motorola i412 phone, which will be available in late June; and the Motorola Titanium, the first Nextel Direct Connect smartphone built on the Android 2.1 operating system, debuting late summer.

Copyright 2011 ABC News Radio


Sprint Asks FCC to Block AT&T/T-Mobile Merger

AT&T(WASHINGTON) -- Sprint wants the Federal Communications Commission (FCC) to step in and put a stop to AT&T's proposed $39 billion acquisition of T-Mobile USA.

The wireless carrier announced Tuesday that it has formally put in a request with the FCC to block the transaction, which would merge the second and fourth largest wireless providers in the country and reduce market competition.

Sprint told the FCC that if the merger were to go forth, it would "harm the broadband economy, competition and consumers," as well as "innovation and investment."  Consumers would be left with fewer choices when choosing cellphone providers, which could result in higher prices for them, Sprint noted.

Furthermore, the transaction would bump up AT&T's power, making it and Verizon "the gatekeepers of the digital ecosystem, stifling innovation and choice in new devices and applications."

Copyright 2011 ABC News Radio


Sprint Unveils First Dual-Touchscreen Smart Phone

Photo Courtesy - Sprint(NEW YORK) -- Amid Verizon's acquisition of the iPhone, Sprint is stepping up its game, announcing the first dual-touchscreen smart phone to be sold in the wireless market.

On Monday night, the wireless provider unveiled the Kyocera Echo, a two-screen smart phone that uses Android software.  The phone will feature two 3.5-inch screens that will operate independently from each other, allowing users to to multi-task or drag elements from one screen to the other.

The Echo will be available exclusively through Sprint this spring and will go for $199.99 after a $100 mail-in rebate with a new two-year contract.

Copyright 2011 ABC News Radio

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