Sprint Nextel Corp said on Thursday its Virgin Mobile
prepaid business would start selling Apple Inc's iPhone later this
month, pitching it against smaller prepaid rival Leap Wireless
International Inc.
Sprint shares rose about 2 percent after the company said the addition of iPhone to its Virgin brand would not hurt its 2012 earnings and would help it reach its overall $15.5 billion commitment to Apple for a certain phone volume over few years.
Virgin customers, who do not commit to a contract and pay for calls in advance, will pay 2-1/2 times the price for an iPhone that Sprint contract customers pay. Contract customers get a big discount in exchange for staying with Sprint for two years.
Virgin would starts selling iPhone
Sprint shares rose about 2 percent after the company said the addition of iPhone to its Virgin brand would not hurt its 2012 earnings and would help it reach its overall $15.5 billion commitment to Apple for a certain phone volume over few years.
Virgin customers, who do not commit to a contract and pay for calls in advance, will pay 2-1/2 times the price for an iPhone that Sprint contract customers pay. Contract customers get a big discount in exchange for staying with Sprint for two years.
Virgin would starts selling iPhone
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