After a row with affiliates over the Wimax deal, Sprint Nextel Corp., the U.S. mobile- phone company that lost more than a million customers last quarter, said itÂ is planning onÂ selling some of itsÂ assets after its net lossÂ rose to $505 million along with ‘letting go’ of about 4,000 employees.
In the last quarter alone, Sprint lost 1.07 millionÂ customers, less than what was predicted, and stated thatÂ theÂ fall in numbersÂ will improve `marginally’ this quarter. “Sprint fell 14 cents to $9.24 at 4:15 p.m. in New York Stock Exchange composite trading”. After writing downÂ a good amount of the purchase of Nextel, Sprint’s loss was $29.2 billionÂ in the fourth quarter. The yield fell to 8.56 percent.
Nextel’s customer turnover or churn,Â hitÂ 2.45 percent from 2.3 percent a year ago and were paying about 6 percent less on their monthly bills from last year. The current average that a Sprint/Nextel customer is paying as of now is $56 a month.