ASPEN, Colo.--Softbank made a big bet when it bought 80 percent of Sprint for $20.1 billion in 2013 and a top executive at the Japanese operator said today that the company is poised to make a turnaround, led by CEO Marcelo Claure.
Japan's SoftBank Group is ramping up its R&D with a pair of initiatives aimed at improving network efficiencies with Chinese vendors ZTE and Huawei.
Sprint paid CEO Marcelo Claure nearly $21.8 million in total compensation for its fiscal year 2014, which ran until the end of March 2015, according to a Securities and Exchange Commission filing. The disclosure makes Claure among the highest-paid executives in the U.S. telecommunications sector and also places him above executives from Verizon Communications and AT&T on a pro-rata basis, since Claure only became CEO of Sprint in August 2014.
Sprint Chairman and SoftBank CEO Masayoshi Son is taking a more active role in planning Sprint's network densification project according to a report from Wall Street firm Macquarie Capital. Further, analysts there think Sprint is going to embark on a plan that will be primarily focused on deploying small cells.
Sprint has received approval from parent company SoftBank to proceed with its massive network densification program, the carrier confirmed.
Sprint CEO Marcelo Claure left for Japan yesterday to meet with SoftBank CEO and Sprint Chairman Masayoshi Son to discuss Sprint's network densification project. According to one Wall Street research firm, Sprint may soon boost its capital expenditures for 2015 once Son signs off on the plan.
SoftBank CEO Masayoshi Son promoted former Google executive Nikesh Arora to the role of president of SoftBank--and essentially designated Arora as his successor, an indication that SoftBank will continue to look beyond its native Japan for growth. Son said SoftBank, which controls 80 percent of Sprint, will be a global company and will continue to invest in mergers and acquisitions following its $21.6 billion deal to take control of Sprint in 2013.
Ericsson and the Global M2M Association (GMA) will showcase their "revolutionary" new Multi-Domestic Service at Mobile World Congress 2015. The GMA calls it one of the most innovative M2M connectivity management services on the market, enabling global deployment and management of M2M and Internet of Things services.
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 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.