Sprint (S) Defends $15.5 Billion Apple’s iPhone Gamble

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Sprint Nextel Corp. (NYSE:S) CEO Dan Hesse has spoken out on his company’s iPhone subsidies. The company made a $15.5 billion deal with Apple Inc. (NASDAQ:AAPL) last October which secured them the right to carry the iPhone on their network. Many have complained about the practicality of the massive deal and about Sprint’s ability to sell enough of the devices to cover the cost. The deal saw Sprint offering big subsidies on its sales of iPhones to new customers. We reported last week on a the possibility of a sprint bankruptcy in the not too distant future. That report , based…

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