News by Josh Dasey on Tuesday November 03, 2015.
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Sprint has suffered a difficult few years as consumers have turned to other carriers and the company's reputation has taken a kicking. After conceding market position to T-Mobile last year, Sprint is the fourth largest carrier in the United States these days, but the company is showing signs of turning the situation around. Through the third quarter (Sprint's fiscal Q2) the company revealed that it is gaining customers and people are not leaving in the rates they previously were.The Now Network added 1.1 million net new subscribers through the months June 1 to September 30, which represents a not too shabby 80% gain over the same period in 2014. Over the last four quarters Sprint has added on average 1 million subscribers per period. Net postpaid's came to 553,000 new customers, up from 272,000 this time a year ago. Financially the problems remain unresolved, with a 6% y-o-y decline to $8 billion as consumers took advantage of more affordable plans. The company lost a massive $585 million during the period, but that is at least an improvement on the $765 million loss in Q2 of 2014. Silver linings.
As seen in our quarterly results, American consumers are happy to switch to Sprint because they appreciate great products and great service at a great price. This quarter marked an inflection point in our turnaround journey, as we achieved positive postpaid phone net additions for the first time in over two years. In addition, we set another record low for postpaid churn and improved sequentially in the September quarter, something no US carrier has ever done before."- Marcelo Claure, CEO, Sprint
Josh is our European editor, tackling news events, reviews, and new items from his UK home. As a former HTC marketing employee, Josh is close to the industry and bring his experience to MobileBurn.