The little company beat its way back, largely on new business from Verizon Wireless and Nextel Communications.
Originally, the company was the international unit of Nextel Communications that was bought by Sprint (S).
Nearly half of that came from Motorola's position in troubled Nextel Communications.
The hybrid firm announced Thursday that the process of merging all the viscera of Sprint and Nextel Communications is ahead of schedule--and it upped the cost savings it foresees from the deal.
The company has lurched from one strategy to another, such as a (subsequently aborted) investment in Nextel Communications, a wireless firm, in 1994 and an on-off alliance with Rupert Murdoch's News Corporation in 1995.
He served as managing director and co-head of the U.S. Buyout Fund from 2003 to 2009, chief executive of XO Communications from 1999 to 2003, and held top stops at Nextel Communications and General Instrument.
Despite having a strong start (See "Forsee's Spring Nextel: Merger Sweeter Than Hoped"), since Sprint bought Nextel Communications in August 2005 the company has struggled with several problems and its stock price has dropped 27%.
Akerson is a veteran of the telecommunications industry, having served as a senior executive at General Instrument, MCI, Nextel and XO Communications.
Sycamore customers include companies like Verizon Communications and Sprint Nextel.
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Hoffman also said he expects to June promotions to provide a tailwind to both Verizon Communications and Sprint Nextel, enabling the two phone carriers to finish off their quarters strong after a lackluster April.
Sigman 's Cingular, the biggest U.S. wireless firm, was first in the U.S. to sell popular phones such as Motorola's Razr, it's lagging rivals such as Verizon Communications and Sprint Nextel in its plans to build its high-speed network.
The announced plan to shut down underperforming stores follows a late-2005 effort to jump start wireless phone sales by dumping Verizon Communications and signing with Sprint Nextel and Cingular .
The emergence of three fast networks from Verizon Communications, Cingular and Sprint Nextel (which shrewdly is bundling with the powerful cable guys Comcast, Time Warner and Cox) will lead to badly needed discounting.
Other competitors in the services sector include: Verizon Communications (VZ), Sprint Nextel (S), and General Communication (GNCMA).
Other competitors in the services sector include: Leap Wireless International (LEAP), Verizon Communications (VZ), and Sprint Nextel (S).
Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users.
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By offering the iTunes phone, Cingular, the United States' largest carrier, is demonstrating a philosophical difference with Sprint Nextel and Verizon Wireless--a joint venture of Verizon Communications and Vodafone--which are planning their own music services.
The deal between Sprint Nextel and Nextel Partners still needs to be approved by the U.S. Federal Communications Commission and the Department of Justice.
Cowen and Company analyst Tom Watts maintained an "outperform" rating on Sprint Nextel after hearing the company will be jointly bidding with various cable companies in the Federal Communications Commission's high-stakes auction for wireless spectrum June 29.
For the ING fund, the two largest at the end of last year--accounting for 8.6% of the portfolio--were units of Charter Communications, rated a lowly B2 by Moody's Investors Service, and Nextel, also a junk issuer with a Ba2 bank-loan rating.
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