12 Value Stocks submits:Sprint is a typical case of a company turning things around. The company has been losing value since 2008 when it experienced a decline in total postpaid subscribers (the industry's most valuable metric), while Verizon (VZ) and AT&T (T) were increasing them. In Q1 2009 alone Sprint lost more than one million postpaid clients. Sprint has lost contract customers in 14 of the past 15 quarters.
Sprint lost customers for three main reasons:
- Horrible customer service. I used to be a Sprint client for several years, but every time I ran into a problem they could not solve it. For instance, sometimes I went over my minutes, never received an alert, and was charged a ridiculous amount of money.
- Lack of an innovative phone lineup and ecosystem capable of competing with the Apple iPhone.
- Outdated technology in its network.
However, it now seems that Sprint is addressing these three problems,
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