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 is interested in participating in next year's planned incentive auction of 600 MHz broadcast TV spectrum but does not feel absolutely compelled to take part, according to CFO Joe Euteneuer. That's because of the improvements Sprint is seeing by deploying its 800 MHz and 2.5 GHz spectrum for LTE and the addition of Wi-Fi calling.
After Sprint revealed that it burned through $914 million in cash in the first quarter, some analysts and investors questioned the company's long-term liquidity and its ability to turnaround its business. However, Sprint executives maintain that the company will continue to invest to acquire customers and improve its network, and it has enough money to do both.
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.