Sprint in Four Year Apple deal paying over $15.5 Billion on the iPhone

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Wednesday, 29 February 2012

Sprint in Four Year Apple deal paying over $15.5 Billion on the iPhone

Last fall Sprint finally got the iPhone 4S and entered into an agreement with Apple for almost $20 billion in iPhone sales. To secure the iPhone Sprint promised to buy nearly 30.5 million iPhones over the next four years. After Sprint's 10-K report filed this week they'll end up paying at least $15.5 billion for the devices, and expect to see a drop in wireless profits because the device will be subsidized. Sprint thinks their actual purchase amount will exceed the $15.5 billion and will increase cash outflow and reduce operating income in the early years of the contract as they recover the acquisition costs through subscriber revenue.

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