Rivada Networks, a startup that launched in Ireland but now operates offices in Washington, D.C. and Colorado, announced that former Sprint CFO Joseph Euteneuer will join the company as co-CEO. Rivada sells what it calls its Open Access Wireless Market that the company said allows carriers and others to buy and sell 4G network capacity in real time and in response to market demand, "which results in more efficient use of bandwidth as demand for it continues to grow 50 percent every year."
Sprint lost its spot as the No. 3 carrier in the U.S. market to T-Mobile US in terms of total subscribers during the second quarter. However, Sprint also noted it is continuing to make progress on its turnaround and said it added postpaid phone customers in May and June and recorded its best-ever Sprint platform postpaid churn.
Sprint shook up its senior executive team and said that CFO Joe Euteneuer will be leaving the company and will be replaced by Tarek Robbiati. The carrier also brought in a new executive, Günther Ottendorfer, to be COO of technology. Sprint also promoted John Saw to be CTO, replacing Stephen Bye, who left the company late last month.
Sprint edged out T-Mobile US and retained the title of the No. 3 U.S. wireless carrier in the first quarter, remaining ahead of its rival for at least another quarter. Sprint added 1.2 million total customers in the period and though it lost postpaid handset customers it pared back those losses compared to earlier quarters.
T-Mobile US CEO John Legere has made one of his missions in 2015 to have his company pass Sprint in terms of total subscribers, to became the nation's No. 3 carrier. Sprint CEO Marcelo Claure indicated that if that happens, it won't be a big deal.
Sprint continued to expand its LTE network and improve its subscriber growth trends in the fourth quarter, even though it posted a net loss of postpaid customers in the quarter.
Sprint parent SoftBank plans to clear out most of the staff of its Silicon Valley offices, according to a Reuters report, following SoftBank's aborted effort to merge Sprint with T-Mobile US.
Sprint CEO Marcelo Claure is expecting strong December sales thanks to a new promotion Sprint launched on Friday to cut customers' service bill prices in half if they switch from Verizon Wireless or AT&T Mobility and buy a new Sprint phone.
Sprint decided to go after Verizon Wireless and AT&T Mobility and not T-Mobile US with its new half-off billing price promotion because Sprint has seen a positive response in attracting Verizon and AT&T customers with its existing shared data plans, according to Sprint CFO Joe Euteneuer.
Sprint said it will shine in the second half of the year and set itself apart from the competition in terms of network speeds and improved capacity. At that time, Sprint will be deploying LTE radios in the 2.5 GHz spectrum, said a senior Sprint executive at an investor conference Monday.