Sprint Revealing Phase Two of Network Vision Soon
Sprint is moving along with its network overhaul and announced plans to release details about phase two in the “not-too-distant future.”
Speaking with Wells Fargo Securities and investors, CEO Dan Hesse and CFO Joe Euteneuer said Sprint is expecting to finish 38,000 Network Vision sites by the middle of 2014. The next piece of the Network Vision, involving incorporating its 2.5 GHz spectrum into its LTE plans, will start to materialize soon.
As Barron’s points out in its dissection of the Wells Fargo report, Sprint believes the 2.5 GHz spectrum licenses, acquired when Sprint bought out Clearwire, will prove to be the “unique asset” giving Sprint’s network capacity and speed advantages over time.
According to the report, Hesse said Verizon may now own the title of best network in the industry but once Sprint gets to “point B,” possibly within three years, it will take away that title by offering the “best network in the world.”
The report reiterated Sprint’s $34 billion CapEx plans over the next five years and mentioned Sprint’s plans to refinance the first-lien paper at Clearwire.
Barron’s points out the report does not mention the 800 customer service jobs Sprint just announced it was cutting. The cuts, which won’t affect the total workforce numbers at Sprint due to growth elsewhere, come after a big subscriber loss following the Nextel network shutdown.
In the Wells Fargo report, Sprint execs admit misjudged how many Nextel customers would keep the service instead of transitioning over to Sprint’s network.