Sprint Nextel Corporation (NYSE:S) will launch its 4G LTE network in early 2012, according to CNET. This comes sooner than expected for the company.
Don’t Miss: Amazon Set to Launch Kindle Fire.
The LTE rollout represents another enhancement to Sprint’s Network Vision plan. The company will have an opportunity to work with vendors building 4G devices and equipment at lower prices while competing with Verizon (NYSE:VZ) and AT&T (NYSE:T) in the 4G arena. The company has already started installing LTE equipment and field testing the network in select areas. They will need all the help they can get as Apple (NASDAQ:AAPL) iPhone users gobble up broadband.
Sprint’s stock (NYSE:S) is up 4.37% to $3.22 on the news. Shares are down 23.64% year to date. The stock has traded in a 52-week range between $2.95 and $6.45.
Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.