One month on the job, Sprint Corporation (NYSE:S) CEO, Marcelo Claure, believes that the company has the ability to raise its market share from the 16% it currently controls. an interview on CNBC, he said that the simplification of the industry in terms of competition remains the biggest challenge for the company according to the CEO.
“The industry is confusing if you just saw the launch of the iPhone 6 and then you see every carrier throws different offers, I think, if you are a consumer and you look at all this at, it is confusing. You never know what is the cost of the phone, how long is the contract, so I think what we are trying to do is try to simplify and bring in a simple value proposition to consumers […],” said Mr. Claure.
The launch of the iPhone 6 by Apple Inc. (NYSE:AAPL) meant that various phone carriers had to throw in exciting offers aimed to attracting consumers who are rushing to buy the device. The CEO maintained that some of the offers launched by their competitors are not good in the sense that they might be confusing. Sprint Corporation (NYSE:S) has already joined the price-war bandwagon consequently offering deals, which, according to the CEO, guarantee value for money.
“What we try to do is have a pretty simple value proposition we call it the best value for wireless and if you are a family we make it simple: for $100 bring up to 10 devices and go out with up to 20 Gigabytes of data, which is pretty much double what anybody else offers […],” said Mr. Claure.
If you don’t like the family package then Sprint Corporation (NYSE:S) is offering an individual package for only $50 a month; the package comes with unlimited data, text and talk time. AT&T Inc. (NYSE:T) according to CNBC’s David Faber is currently reprising its entire customer base, while T-Mobile US Inc. (NYSE:TMUS) is aggressively pursuing market share, having reiterated it plans to surpass Sprint in terms of customer base.
D. E. Shaw holds 5.20 million shares of Sprint Corporation (NYSE:S) worth $42.65 million.