(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?
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