By Joseph Palenchar On May 3 2010 - 4:01am
OVERLAND PARK, KAN. — Sprint
Nextel will add a new prepaid brand
and reposition its existing prepaid
brands in mid-May.
The carrier’s current prepaid brands
are Boost Mobile and Virgin and the
new strategy will include a “fully revamped
Virgin Mobile proposition”
and a new brand targeted to the payas-
you-go prepaid segment, said prepaid
group president Dan Schulman.
In the first quarter ending March,
Sprint Nextel continued to lose subscribers
and money in its wireless operations,
although at a slower pace
than in previous quarters. In addition,
wireless revenue posted its first yearto-
year increase in almost three years,
though they grew by less than 1 percent
year over year to $6.43 billion.
For the quarter, the carrier’s wireless
segment posted a net operating
loss of $330 million, down from a
year-ago loss of $558 million.
For the quarter, the carrier’s subscriber
base shrank by 75,000, compared with
a year-ago reduction of 182,000. The
total subscriber base at the end of the
quarter stood at 48.1 million.