Sprint (S) has decided to try to attract the cell phone customer who keeps a handset glued to his head 24 hours a day. Perhaps it is a bigger market than Wall St. realized. The wireless service company is testing a program for unlimited voice, text, and internet access for $120 a month.
As The Wall Street Journal points out, consumers and small business customers have been used to unlimited calls for a single price over landlines for some time.
The $120 a month deal may help Sprint take customers from AT&T (T) and Verizon Wireless (VZ)(VOD), both have which have been besting Sprint in terms of adding new customers. Sprint’s shares are down over 25% over the last 52 weeks. The company is coming to market with a national WiMax network that can service as many as 100 million customers, but the launch of the platform is nearly two years off.
Sprint needs to take a few chances and differentiate itself from rivals. The stock market does not see much in the company’s shares now, and for current management to stay in place, that has to change.
Douglas A. McIntyre
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