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Tech & Biz

Sprint shares tumble

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by mtippett | January 19, 2008 at 12:28 am

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It is significant that Sprint can lose this many customers given how difficult it is to unsubscribe to their service. This is a real measure of just how lousy they are:

NEW YORK (Reuters) - Sprint Nextel Corp (S.N) reported deeper than expected subscriber losses on Friday and said it would cut about 4,000 jobs, raising fears of a slowdown in the U.S. wireless industry, and its stock dropped nearly 25 percent.

The third largest U.S. mobile phone service has been losing ground to bigger rivals such as AT&T Inc (T.N) and Verizon Wireless amid network and customer service problems.

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mtippett

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