T-Mobile US will top Sprint in U.S. suscribers by end of the year, CEO says

August 7, 2014
telecommunications
T-Mobile chief says
carrier to top Sprint

T-Mobile US will overtake Sprint as the No. 3 wireless U.S. carrier in subscribers by the end of the year, chief executive John Legere tweeted Thursday.

The declaration came a day after T-Mobile said it surpassed Sprint as the No. 1 wireless provider for prepaid customers, with 15.64 million users, compared with Sprint’s 15.19 million.

The figures put T-Mobile, which calls itself the “uncarrier,” well ahead of rivals AT&T and Verizon in the prepaid market. Verizon and AT&T hold a larger share of the more profitable postpaid U.S. subscriber base.

“I predict the #uncarrier will overtake @Sprint in total customers by the end of the year! There, I said it!,” tweeted Legere.

A spokeswoman for Sprint declined to comment.

While T-Mobile has been adding record numbers of subscribers through promotions and campaigns, Sprint customers have been leaving in droves because of service problems from the carrier’s network overhaul.

This week, Sprint’s parent company, SoftBank, walked away from its offer to buy T-Mobile and replaced Sprint chief executive Dan Hesse with Miami businessman Marcelo Claure.

Legere, known for his outspoken style, did not waste time in engaging with his new competitor, and tweeted at Claure on Thursday “Sorry @marcelo
claure, you’re already behind!”

— Reuters

economic recovery
Survey: For many, no end to the downturn

A quarter of U.S. households say they’re “just getting by” financially, a survey by the Federal Reserve shows.

The Fed issued the first-time report Thursday, describing it as a snapshot of how Americans perceive their financial and economic well-being. The survey of about 4,100 households was conducted from Sept. 17 through Oct. 4 last year.

Thirteen percent said they were struggling to get by, and
34 percent reported they were somewhat worse off or much worse off than before the Great Recession hit in 2008.

Other findings: A third of those who had applied for credit in the previous 12 months said they were turned down or given less than they requested, and
24 percent had some type of education debt.

Twenty-six percent of homeowners said they expected prices in their neighborhood to increase by as much as 5 percent in the 12 months following the survey period.

As the economic recovery enters its sixth year, a number of factors help explain why many Americans don’t feel better off: Income hasn’t rebounded. Millions are working part time even though they want full-time jobs. It’s taking longer to find work. People are still struggling with mortgage debt. Most people don’t feel free to spend as much as they once did.

— Associated Press

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