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Sprint Adds 1.1 Million Subscribers, Has Lowest Churn Rate in Five Years

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(Sprint CEO Dan Hesse)

Good news for Sprint: the struggling wireless company posted its best net new wireless subscriber numbers in five years. The company added 1.1 million total subscribers in the first quarter of 2011; 846,000 prepaid and 310,000 postpaid. Churn was down, too, 4.36 for prepaid and 1.81 for postpaid, the lowest rates ever for the latter. 

The company recently added a $10 charge for smartphone use, but even this didn't deter customers from upgrading their plans."Even after the $10 charge, our pricing is very, very competitive," said CEO Dan Hesse.

Sprint needs growth. The company faces super steep competition from AT&T and Verizon, especially since the latter now offers the iPhone and the former plans on merging with T-Mobile to become a wireless bohemith. Sprint, of course, opposes the merger.

Sprint's revenue rose about 3 percent to $8.3 billion, and was above the analyst expectations for $8.19 billion, according to Thomson Reuters I/B/E/S.

What do you think of Sprint?  Do you see any reason in choosing them over a competing provider? 

Source: Reuters

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