“NEW YORK (AP) — Subscriber trends are turning south again for Sprint Nextel as it struggles to compete with Verizon Wireless, the juggernaut of the industry.
The country’s No. 3 wireless carrier on Thursday said it lost overall subscribers for the first time in two and a half years in the third quarter, as customers gave up on the moribund Nextel network and the company failed to sign up enough of them on the Sprint network.
It’s the first time Sprint Nextel Corp.’s is reporting quarterly results since agreeing to sell 70 percent of itself to Japanese cellphone company Softbank Corp. for $20.1 billion. The deal hasn’t closed yet, but Sprint has already borrowed money from Softbank.
Sprint lost an overall 423,000 subscribers in the July to September period, as trends across its product lineup were weak.”
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