Sprint Nextel loses $1.6 billion in Q4


Remember Sprint? They’re supposed to come out with the Palm Pre shortly but they just lost $1.6 billion in Q4 and dropped 1.3 million customers, 1.1 million of those monthly customers.


Sprint has been sucking wind recently on the handset front and Verizon, Sprint’s closest real competitor, has convinced America that their network is second to none. As a result, T-Mo and AT&T are fighting it out in the cool phone front while Sprint is an also ran. Obviously the Palm Pre should change things up considerably this summer but maybe this Nextel purchase wasn’t such a good idea after all.

Right now they’re cutting 8,000 jobs and partnering with Clearwire for WiMax. There’s also some hope that they can convince the youth to pick up on their prepaid Boost Mobile service in lieu of pricier postpaid packages.