Sprint is Betting Much More on 4G than Originally Thought
At Sprint’s Strategy Update on Friday, Joe Euteneuer, Sprint CFO said the company’s switch from its current iDEN and WiMaxs networks to CDMA/4G LTE will cost the company $10 billion. Analysts had placed a $4 to $5 billion number on the change and concern is starting to ripple that in addition to Sprint putting all of its eggs in one basket for the Apple (NASDAQ:AAPL) iPhone launch, it’s also doing so for 4G.
Euteneuer tried to calm analysts’ fears by saying the company should save $10 billion to $11 billion through 2017 from the change including a $4 billion savings from the absence of maintaining the iDEN network.
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