Sprint-Nextel (NASDAQ: S) may not have the Apple (NASDAQ: AAPL) iPhone but that has not impeded its recover.
The wireless provider posted relatively good numbers for the period which ended on December 31. The company also pointed to its 4G WiMax service as a means of future growth. AT&T Wireless and Verizon Wireless have been slow into the market with their 4G LTE products.
Fourth quarter revenue rose 6% to $8.3 billion. Sprint’s net loss fell from $980 million in the same period last year to $929 million.
The telco said it “added nearly 1.1 million total wireless subscribers driven by net postpaid subscriber additions of 58,000, which include net subscriber additions of 519,000 for the Sprint brand – and the company’s best ever fourth quarter prepaid net subscriber additions of 646,000. The company delivered postpaid churn of 1.86 percent – the best postpaid churn result Sprint has reported in the fourth quarter of any year. Sprint achieved its best ever annual postpaid churn of 1.95 percent in 2010.”
AT&T and Verizon Wireless continue to add wireless customers but at a slowing rate. There are 280 million cellphones in use in the US by some estimates. The four large wireless companies which includes T-Mobile are now in a battle for market share. The struggle will probably go on for several years. And, the winner may need to win a discount war to take the top position by amassing market share. Margins are about to be squeezed.
Douglas A. McIntyre
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