Sprint launching new plans before iPhone 7 launch as it reports earnings

Sprint’s done with its first fiscal quarter of 2016 and is reporting numbers. Like most companies, some are good and some are bad.

The bad? The company recorded a net loss of $302 million for the three months ending on June 30. Operating income dropped 28 percent year over year to $361 million while net revenue was flat.

The good? Overland Park added 173,000 postpaid subscribers this quarter, the fourth quarter in a row. It ends the quarter at 59,453,000 subscribers. Sprint’s LTE Plus network launched in another 33 markets with a total of 237 markets so far.

With a growing subscriber base, Sprint hopes to capitalize on some different plan rates. CEO Marcelo Claure said during the company’s earnings conference that we should see “a new set of rate plans before the next iPhone,” said to launch on September 12. We aren’t sure if the “Unlimited Freedom Plan” will be part of the plan offerings going forward. This move, though, does mean the end of Sprint’s offer to customers porting from other carriers, cutting their comparable rate plans by half.

Virgin Mobile and Boost Mobile, Sprint’s two prepaid brands, are still draining customers at the moment, altogether losing 331,000 subscribers this quarter. Virgin Mobile is due for “a complete overhaul” in September.

“It’s a revolutionary approach on how people procure prepaid and the type of devices they can get,” Claure said.

Source: Sprint
Via: CNET

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Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.