Sprint's CEO Dan Hesse signed an estimated US$15.5 billion deal with Apple to carry the iPhone. After a less than stellar quarterly performance, the CEO is trying to quell shareholder discontent by publicly defending his decision, says a report in AllThingsD.
Speaking at an annual shareholders meeting, Hesse assured investors that "carrying the iPhone will be quite profitable." Customers will join Sprint to get the iPhone on an unlimited plan and will stay because most people who buy the phone are happy with their purchase. The iPhone will increase the number of long-term customers with revenue-generating data plans which is good for Sprint's bottom line. Sprint won't see these benefits until 2015, but the CEO believes the iPhone is worth the wait.