Sprint – Apple’s iPhone carrier partner in the US announced their fourth quarter financial results earlier today.
They’ve reported net operating revenue of $9 billion during the quarter and a net loss of $1.3 billion and a diluted net loss of $0.44 per share.
Sprint announced the best quarterly iPhone sales of approximately 2.2 million iPhones, of which 38 percent were new customers. It is a huge jump compared to 1.5 million iPhones it sold in each of the first three quarters of 2012.
Sprint still lags behind AT&T and Verizon in terms of iPhone sales. AT&T sold 8.6 million iPhones while Verizon activated 6.2 million iPhones.
Sprint also announced that it sold 4 million 4G LTE smartphones, which includes Apple’s iPhone 5. Sprint has launched 4G LTE services in 58 cities and expects to launch the faster service in 170 more cities in coming months. The company expects to cover over 200 million people with 4G LTE by the end of the year, though it could slip to the beginning of 2014.
Sprint’s CEO Dan Hesse has also reiterated that the company has no plans to change its offering and will continue to offer the unlimited data plans, which were abandoned by AT&T and Verizon two years back.
I think Sprint’s growth has been hampered by the slow roll-out of its 4G LTE network. It will be interesting to see if it can attract more customers when it has a much wider LTE network.