News Ticker

Sprint is Offering Five Months of Free Service with LG X Power; Softbank’s Investments

Sprint is Offering Five Months of Free Service with LG X Power; Softbank’s Investments

Sprint’s pre-paid phone service may attract more customers with the LG X Power smartphone. According to Digital Trends, customers who buy it will get five months of free cellular service. The deal is available at Best Buy. It comes with the $35 plan from Virgin Mobile which includes:

  • Unlimited talk and text
  • 5GB of 4G LTE data

The service reduces to 2G after the data limit is reached.

Sprint’s Downfall

Sprint lost 427,000 pre-paid customers during the third quarter of 2016. They did get a break when Softbank invested $50 billion in the U.S. Sprint plans to hire 6,000 people as a result of the investment.

Sprint hasn’t produced a profit since 2006. Last year, Sprint revealed a plan to make the company successful. It involved cutting $2 billion and $ 2.5 billion in costs over six months. Sprint’s losses resulted in a 30 percent deduction in SoftBank’s profits. Softbank acquired Sprint in 2012.

Softbank’s Investments

Recently, Softbank invested in Vodafone’s Japanese division ($20 billion) and ARM Holdings ($31 billion). ARM Holdings design processors and license them to Qualcomm, Apple, and other companies.

Softbank is valued at $68 billion. They expect to contribute $25 to $45 billion over the next five years to the U.S. The funds are derived from Softbank, Saudia Arabia’s sovereign wealth fund, and other groups. It’s valued at $100 billion.

T-Mobile is the leader in pre-paid phone service.

Source: Digital Trends

Sprint is Offering Five Months of Free Service with LG X Power; Softbank’s Investments
About Vasanth Simon (916 Articles)
@VasanthSimon1

Leave a comment