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February 28, 2012 09:12 pm EDT
Original Link: http://www.engadget.com/2012/02/28/sprint-iphone/
Sprint reveals it spent $15.5 billion to fuel its iPhone hunger
Sprint's SEC filings have revealed that the carrier has committed to purchasing $15.5 billion worth of iPhones as part of the long-promised $20 billion gamble. If each handset costs around $630 at trade, then we're talking about the network holding nearly 24 million units. Given that the company most recently ate a loss of $1.3 billion, most of which was caused by carrier subsidies for the 4S, there's a genuine fear that the company won't be able to make enough back on each customer to offset the initial outlay. Given the Baller-style purchasing decisions of Dan Hesse of late, we'll be watching how this unfolds with great interest and our fingers very firmly crossed.Sprint reveals it spent $15.5 billion to fuel its iPhone hunger originally appeared on Engadget on Tue, 28 Feb 2012 16:12:00 EDT. Please see our terms for use of feeds.
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Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics. Engadget was launched in March of 2004 in partnership with the Weblogs, Inc. Network (WIMore About this Source Visit Engadget