10/07/2011, 12:09 PM
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Sprint Outlines Costly Updgrade Plans; Shares Fall
Hi all,
FYI....see link. Take care, Jay October 7, 2011 Sprint Outlines Costly Updgrade Plans; Shares Fall By REUTERS http://www.nytimes.com/reuters/2011/...gewanted=print NEW YORK (Reuters) - Sprint Nextel Corp declined to detail its commitments to Apple Inc for selling the iPhone and said its financial forecast does not include iPhone costs. Sprint shares, up as much as 12 percent earlier on Friday, were halted and fell 7 percent when they resumed trading. The phone company, which started taking orders for the iPhone on Friday, said the phone is more expensive than others but will be "quite accretive" to its profits over time.
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