Sprint commits to Nextel

22 Sep 2008

Sprint Nextel CEO Dan Hesse says the firm is intent on turning around the Nextel side of the business and is not looking for a buyer for the unit. Sprint acquired Nextel in 2005 in a USD38 billion deal, with Nextel’s iDEN wireless network and its corporate customer base the main attraction. But the iDEN network is now losing users in the face of intense competition for mobile data customers from the likes of AT&T and Verizon Wireless. Hesse said last week that Sprint wants to improve Nextel’s fortunes rather than ditching the unit altogether. Sprint Nextel had 51.9 million customers at the end of June, down from more than 54 million twelve months before.

United States, Sprint Corporation (now part of T-Mobile US)