Sprint said it will more than double its U.S. retail store footprint by purchasing around 1,750 stores from now-bankrupt electronics retailer RadioShack.
RadioShack may soon go into bankruptcy protection--a move that could mark the end of its existence as a national retail chain. And the company is considering selling half its store leases to Sprint and shutting down its remaining stores, according to a Bloomberg report.
Struggling mobile and electronics retailer RadioShack is negotiating a deal to sell to Sprint the leases to some of its stores. RadioShack is reportedly on the verge of filing for bankruptcy protection.
RadioShack confirmed that it has discontinued its RadioShack No-Contract Wireless brand, which it launched in 2012 through a partnership with Leap Wireless. In separate but related news, the T-Mobile US MVNO Spot Mobile said it has decided to wind down its business and will shut off service to customers by Sept. 7.
Struggling electronics and wireless retailer RadioShack said it will shutter as many as 1,110 stores across the United States as it seeks to turn itself around with a smaller footprint.
Super Bowl XLVIII was a dud of a game, with the Seattle Seahawks crushing the Denver Broncos 43-8, but it was still the most-seen broadcast in U.S. television history. According to Nielsen, Fox's Super Bowl broadcast delivered an average 112.2 million viewers. In fact, the advertisements may have been more entertaining than the game, and this year there were an unusual number that either directly or indirectly related to the wireless industry or technology.
RadioShack ended its mobile retail relationship with Target, saying the two companies could not agree to terms that would have created more profit for both parties.
RadioShack said CEO Jim Gooch stepped down from the company after 16 months at the helm as the ailing retailer struggles to find its identity in wireless and in a changing retail landscape.
After weeks of rumors, it's now official: RadioShack will launch its own prepaid branded wireless service powered by Leap Wireless' (NASDAQ:LEAP) Cricket Communications. The new venture, dubbed RadioShack No-Contract Wireless, will begin service Sept. 5.
Sprint Nextel's Virgin Mobile brand has started a full-throated marketing effort for its prepaid version of Apple's iPhone--but will soon need to quiet the campaign, according to a Dow Jones Newswires report.