Andre Yoskowitz
4 Oct 2011 13:24
Sprint is preparing to purchase 30.5 million iPhones from Apple, worth around $20 billion, says the WSJ.
The deal will be from 2011-2015 and will finally allow the carrier to become the third in the U.S. to offer the popular smartphones.
At $20 billion over 4 years, CEO Dan Hesse says the company will not begin making money until 2014.
The CEO has told the board of directors that the company will need to double its current customer base to sell that many iPhones, or at least convert all of their current customers.
It appears the board had some reservations, but eventually signed off on the deal. One such reservation was worries that the iPhone would lose popularity by 2015.
The WSJ says the bet is an "all-or-nothing" and could very well bankrupt the company by 2015.