Sprint posted its first quarterly net profit since 2007 in the third quarter under new ownership of Japanese parent SoftBank. However, the carrier still lost subscribers as the hangover from its shutdown of the Nextel network at the end of the second quarter continued to hurt its results.
It's no secret that the vast majority of what wireless executives say in public is not surprising. Usually it's a recitation of phrases, talking points and ideas they have made in the past that they are simply reinforcing. However, every once in a while, in an interview or unguarded moment, wireless executives can let loose a whopper.
Sprint parent SoftBank said it agreed to take a 57 percent stake in U.S. wireless device distributor Brightstar Corp. for $1.26 billion, in a deal that values the privately held company at $2.2 billion.
Sprint parent SoftBank is continuing its buying streak, and it indicated Wednesday that it is in talks to take a stake in U.S. wireless device distributor Brightstar Corp.
Sprint, in its first major executive reshuffling since SoftBank acquired control of the company in a $21.6 billion deal, is reconfiguring its sales and marketing organizations with the departure of some senior executives and the splitting up of responsibilities.
SoftBank CEO Masayoshi Son said that Sprint investors need to be patient as the carrier undergoes the next chapter in its turnaround under SoftBank control, and warned that real progress might take another two years to achieve.
Sprint CEO Dan Hesse isn't going anywhere anytime soon, as parent SoftBank has extended Hesse's contract through at least July 31, 2018.
Japanese operator SoftBank now owns more than 80 percent of Sprint, a move that was made largely for tax purposes.
Japanese telecom operator SoftBank collaborated with network gear vendor Huawei on a field test of LTE Advanced in the 3.5 GHz band that supported a peak download speed of 770 Mbps and average download speeds of 500 Mbps.
Sprint CFO Joe Euteneuer confirmed that Apple's newest iPhones, the iPhone 5s and 5c, do not support LTE on 2.5 GHz spectrum, which Sprint will use for a nationwide TD-LTE deployment.