Sprint Corporation (NYSE:S) is all set to outmatch its competitors by slashing its prices to half and the carrier organized “Cut Your Wireless Bill in Half Event.” Sprint offered to cut bill plan prices to half for customers migrating from other carriers including Verizon Communications Inc. (NYSE:VZ) and AT&T Inc. (NYSE:T).
The CEO of Sprint, Marcelo Claure, said, “The Cut Your Bill in Half Event clearly demonstrates that Sprint delivers the best value in wireless. It’s as simple as this: Bring Sprint your Verizon or AT&T bill along with your phone and we’ll cut your rate plan in half. That’s a 50 percent savings on your rate plan every month. And this great deal is not just a promotion. This will be the customer’s ongoing price.”
Sprint Corporation (NYSE:S) has incurred customer losses for the last seven years and this “cut your bill in half” strategy indicates the desperation of the new CEO of the company. At the same time, Sprint is targeting its primary competitors including Verizon Communications Inc. (NYSE:VZ) and AT&T Inc. (NYSE:T). The company has announced the offer for customers vacating these carriers; however, the offer is not valid for the existing customers of Sprint or T-Mobile US Inc (NYSE:TMUS) users.
The offer is likely to commence on December 5, 2014 and it is a limited period offer. The customers planning to switch to Sprint Corporation (NYSE:S) have to submit their bills through the online portal or visit nearest Sprint offer. The company will offer similar plan and customers can avail the leasing options available in the company. Sprint is ready to pay up to $350 through Visa® Prepaid Card for covering any termination cost or bill installment balance.
The shares of Sprint have declined up to 57% year-to-date and its shares are trading at $4.72. With Sprint slashing its plan prices, the competition is likely to catch up among other major carriers including Verizon Communications Inc. (NYSE:VZ) and AT&T Inc. (NYSE:T).
This article has been written by Prakash Pandey.