Sprint has announced its Q4 2011 financial results. In short, it attracted a lot of new iPhone customers. Specifically, the press release revealed that Sprint sold 1.8 million iPhones, 40% of which went to new customers.
“Strong revenue growth and cost management partially offset the impact of increased equipment net subsidies and sales expense associated with the successful launch of the iPhone. Forty percent of Sprint’s 1.8 million iPhone sales in the fourth quarter were to new customers. Based on internal estimates, including incremental costs associated with iPhone sales, the combined impact of iPhone and Network Vision costs reduced fourth quarter Adjusted OIBDA* margin, which was 10.8 percent, by approximately 8.8 percentage points.”
Clearly, the iPhone 4S is a huge disappointment.