Sprint Nextel Corporation (NYSE:S) provides wireless and wireline communications service to more than 100 million people and businesses. But not for long.
Faced with mounting costs, Sprint plans to shed its communications business. It will emerge as a leaner firm that just bills customers.
"Voice and data are expensive" explained Keith Cawan, Sprint's President of Strategic Planning and Corporate Initiatives. "But sending bills and processing payments are easy. Providing service was a distraction; just noise."
The company expects gains in customer satisfaction. "No more calls means no more dropped calls."