Filed under: News | Mobile Phones
Sprint reports Record Loss of $29.5 Billion in Q4
Feb 28 2008, 8:57am CST | by Luigi Lugmayr
Sprint Nextel reported a record loss of $29.5 Billion. The company wrote off almost all of the Nextel acquisition cost from 2005. Shares of Sprint shares are currently down 11%.
Sprint already borrowed $2.5 billion to increase financial flexibility. On top of these financial issues the 3rd largest wireless carrier in the U.S. is losing subscribers.
More details in this Sprint press-release and on CNN Money.
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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years
experience in the technology field to the ever evolving and exciting
world of gadgets. He started I4U News back in 2000 and evolved it into
vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.
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