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Sprint sells 1.5 million iPhones in Q1, cuts net losses to $863 million

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Sprint made a loss of $863 million in Q1 2012, a considerable improvement on its $1.3 billion net loss last quarter. It also continued to attract customers with its iPhone, with 1.5 million more units sold.

sprint 4g lte
sprint 4g lte

Sprint managed to cut its net losses to $863 million last quarter, while adding more than 1.1 million new customers to its network. It highlights the iPhone as a big seller: having sold 1.8 million of the devices in Q4 last year, it shifted a further 1.5 million in Q1 2012, 44 percent of which were to new customers. The company has also seen growth in postpaid customers — a net growth of 263,000 in the network last quarter alone, with each spending an average of $4.03 more than last year. The resulting Average Revenue Per User (ARPU) of $59.88 is a new record for Sprint, improving on last quarter, which set the previous high mark.

Sprint is still on track with its LTE network, expecting to launch in six major cities by mid-year and with 5 percent of its 12,000 sites planned for 2012 already operational. The company has also withdrawn 1,300 of its iDEN (2G) sites, and expects to have 9,600 offline by the end of Q3 this year. The quarter continues the loss-making trend that Sprint has been on over the past five years, though the network seems pleased with its continued customer growth.