The effects of the credit crunch…
Thursday, November 8th, 2007Well it appears that the effects of our credit crunch are starting to show up in non-essential services.
Sprint is losing subscribers. Big time. Sprint lost 337,000 post-paid subscribers, or customers who sign annual contracts and pay monthly bills. Total subscribership fell 60,000 from the second quarter to 54 million. The competition, however is doing better. AT&T and Verizon Wireless added two million and 1.6 million net subscribers, respectively. Furthermore, Sprint expects subscriber losses to continue into the fourth quarter.
It seems that Sprint’s troubles stem from its reliance on customers with poor credit, the cellphone industry’s version of the …
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