Sprint Needs Billions To Cover iPhone Investment

  • October 26, 2011

Sprint said it could need $7 billion in new financing over the next few years to cover a cash shortfall caused by heavy investments in the iPhone introduction and a big network upgrade, reports Reuters. The company said it did not expect the iPhone benefits to exceed its costs until 2015. Plus, it announced it was negotiating a new deal with Clearwire Corp., its biggest client. 

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