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University of Minnesota sues Sprint, others over 4G phone patents
2014-11-07 02:32:58| IT Services - Topix.net
The University of Minnesota is suing Sprint Corp and other major mobile phone carriers for infringing on technology developed by a professor that speeds up phone service.
Tags: phone
university
minnesota
patents
Sprint Layoffs: America's No. 3 Wireless Carrier Cutting 2K Jobs
2014-11-05 08:59:30| IT Services - Topix.net
Sprint is laying off 2,000 employees as the company tries to cut costs after posting a $765 million net loss in its most recent quarter. During the past year, the company, which is based in the Kansas City suburb of Overland Park, has cut about 7,000 jobs, or 18 percent of its workforce, the Kansas City Business Journal reported .
Tags: jobs
wireless
cutting
carrier
UPDATE 1-SoftBank cuts FY profit target on Sprint woes; Q2 profit down 23 pct
2014-11-04 12:30:45| Telecom - Topix.net
SoftBank Corp, the Japanese mobile carrier with ambitious plans to grow overseas, slashed its profit forecast as Sprint Corp, the U.S. carrier it bought for $21.6 billion, continues to lose customers with no quick fix in sight. In a statement on Tuesday, SoftBank said it now expects an operating profit of 900 billion yen in the 12 months through March 2015, 10 percent down from the 1 trillion yen profit it previously estimated, citing Sprint's troubles.
Tags: update
target
profit
cuts
UPDATE 1-SoftBank cuts FY profit target on Sprint woes; Q2 profit down 23 pct
2014-11-04 11:54:11| IT Services - Topix.net
SoftBank Corp, the Japanese mobile carrier with ambitious plans to grow overseas, slashed its profit forecast as Sprint Corp, the U.S. carrier it bought for $21.6 billion, continues to lose customers with no quick fix in sight. In a statement on Tuesday, SoftBank said it now expects an operating profit of 900 billion yen in the 12 months through March 2015, 10 percent down from the 1 trillion yen profit it previously estimated, citing Sprint's troubles.
Tags: update
target
profit
cuts
Sprint lowers EBITDA outlook, plans 2,000 job cuts
2014-11-04 08:51:00| Telecompaper Headlines
(Telecompaper) Sprint's new CEO has announced plans to reduce operating costs by USD 1.5 billion and cut 2,000 jobs at the operator. The workforce reduction is expected to save USD 400 million a year. The company is also reviewing the rest of its management and plans to add more new candidates, both external and from parent company Softbank. Appointed in August, the new CEO Marcelo Claure aims to reposition Sprint as the 'best value in wireless'. In addition to cutting operating costs, Sprint is working to complete its network upgrade and LTE roll-out, which has been impacting the customer experience and increasing churn. Sprint lost 336,000 retail postpaid customers in Q3. Prepaid customers fell by 20,000, while the operator gained 840,000 wholesale connections. This left it with just over 55 million customers at the end of September. Postpaid ARPU fell to USD 60.24 from USD 61.65 in Q2 and USD 63.48 a year ago. Total revenues fell to USD 8.49 billion from USD 8.68 billion a year earlier, while adjusted EBITDA rose slightly year-on-year to USD 1.386 billion or 18.6 percent of revenue. The company said the loss of customers and pressure on wireless revenue, as well as increased selling costs for new tariff plans, will put pressure on results in the last quarter. Sprint lowered its adjusted EBITDA forecast for 2014 to USD 5.8-5.9 billion from a previous estimate of USD 6.7-6.9 billion.
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