Sprint sold 1.8 million iPhones last quarter, but still lost $1.3 billion

Sprint released its fourth quarter financial results, and as expected, the iPhone played a huge part in the company’s business dealings. In fact, of the 1.6 million new Sprint subscribers last quarter, 720,000 of them are iPhone customers. For those keeping track, that’s 45%. According to Sprint CEO Dan Hesse,

“Our strong fourth quarter performance illustrates the power of matching iconic devices like the iPhone with our simple, unlimited plans and industry-leading customer experience. During the past year, Sprint added more than 5 million net new customers and grew wireless service revenue by more than 5 percent, including 17 percent for the Sprint platform. This momentum gives us confidence as we execute our Network Vision upgrade and 4G LTE roll-out.”

And while this enormous boost led to a 5% revenue increase for a total of $8.7 billion, America’s third-largest carrier still reported a net loss of $1.3 billion for the quarter. Sprint execs attributed this loss, at least partially, to “the impact of increased equipment net subsidies and sales expense associated with the successful launch of the iPhone.” So, the iPhone was both good and bad for the company? I will never understand business…

But what really matters here are the customers, and there sure are a lot of them. It’s great that so many eager Sprint subscribers finally got the chance to get their hands on an iPhone. Now we just need T-Mobile to start offering Apple’s flagship device!

How many of you are Sprint iPhone customers? What’s your experience been like? Let me know in the comments section below or on twitter!

 

Via: iLounge, AppleInsider

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