Boston, MA 11/04/2013 (wallstreetpr) – In collaboration with the LG Electronics USA, the $26.98 market capped Sprint Corporation (NYSE:S) will on Nov. 8 add Google’s Nexus 5 to its products portfolio. This means that the company will be enhancing its service revenue and accelerate the demand for its high speed LTE network. With a cash rebate of $50, the device will be asking for $149.99 for the version featuring 16GB. Sprint will also start offering Samsung Galaxy Mega in efforts to attract more customers to its 4G network. The company currently has several smartphones among its products portfolio. In its Q3 reporting, the company’s 92% of post-paid sales was contributed by smartphones. In the same quarter, the company activated Apple Inc iPhones in its network numbering 1.4 million, out of which 40 represented new customers. In the total Q3 smartphone sales, the company sold 5 million units. It is now expecting iPhones to earn it $7-8 billion in profits.
Sprint is not just gapping up its revenue on smartphones and other equipment like routers, its also seeking to boost its service revenue. And in this front, value added data plan seems to be promising in terms of accelerating its post paid subscriber growth for the wireless network. The company’s prepaid service is already paying off well through such plans as $50 Monthly Unlimited, Boots Mobile, Virgin Mobile and Assurance Wireless. Other strategies such as $30 per month on smartphone and $10 a month on other phones under its Unlimited Guarantee is also bringing in significant revenue.
For Sprint, Q3 was just a well reported quarter with positive numbers coming in from across its major business. Its services segment was bolstered through its unique offerings and unlimited plans. Also the products segment recognized significant boost due to smartphone sales and sale of other equipment.
The company traded on the positive side of things last week, gaining 2.08% on stock price to finish north at $6.87.
