Sprint iPhone Sales Remain Steady in Q2
Among the United States’ three leading wireless service providers, Sprint Nextel Corporation (NASDAQ: S) has continually ranked at the bottom in terms of Apple, Inc. (NASDAQ:AAPL) sales. However, if it is any consolation, Sprint’s second quarter statistics revealed that the carrier sold 1.5 million iPhones in Q2 2012, basically the same number of iPhones sold in Q1 2012.
Sprint’s rivals AT&T Inc. (NASDAQ:T) and Verizon Communications Inc. (NASDAQ:VZ) reported a decrease in iPhone sales in the second quarter of 2012. Compared to 5.5 million units in the first quarter of the year, AT&T sold only 3.7 million in the second quarter.
Verizon’s drop in iPhone sales was less precipitous, going down from 3.2 million to 2.7 million between Q1 and Q2 2012.
The iPhone has also proven to be a good reason for consumers to port over to Sprint. New postpaid customers made up 40 percent of second quarter 2012 iPhone sales – this, however, was a drop from the March quarter’s 44 percent new customer share. As of Q2 2012, Sprint has a total of 56 million subscribers, which is still third behind AT&T and Verizon, but ahead of T-Mobile USA, which is owned by Deutsche Telekom AG (NASDAQ:DTEGY).
Unfortunately for Sprint, the carrier’s net losses were greater in the second quarter as compared to the first. The cost of subsidies was mainly responsible for Sprint’s $1.4 billion net loss and $0.46 per share diluted net loss in Q2 2012 – in the first quarter, Sprint recorded a net loss of $847 million and diluted net loss of $0.28 per share.