Sprint CEO Dan Hesse.
(Credit: CNET)
Verizon Wireless got fat off of the customers that left Sprint Nextel's iDEN network over the past few years.
That's according to Sprint CEO Dan Hesse, who told investors today that Verizon has nabbed half of the customers who left the ailing Nextel service over the past few years. AT&T grabbed roughly a quarter of the departing customers.
"The iDEN (Nextel) network was a big source of customers for our rivals, particularly Verizon," Hesse said.
More recently, Sprint has shifted its strategy and rededicated its resources into winning back Nextel customers, who are still leaving ahead of the planned network shutdown next year. In the second quarter, Sprint said it managed to grab 60 percent of departing customers, higher than the 46 percent rate it had in the first quarter and its goal of a 30 percent rate.
Converting those departing Nextel customers is more important than ever with fewer consumers up for grab in the market. All of the major carriers posted record-low turnover rate on their core contract service, and with few people without a cellphone, the market for new customers is limited. Its dilemma every carrier faces, but has hit Sprint particularly hard because it continues to bleed Nextel subscribers.
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