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Leap Wireless (LEAP -2.3%) might end up with a lot of spare iPhones in its warehouses. The...
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Wednesday, February 27, 7:08 PM ETLeap Wireless (LEAP -2.3%) might end up with a lot of spare iPhones in its warehouses. The prepaid carrier disclosed in its 2012 10-K it's on pace to buy only half the iPhones it has agreed to purchase from Apple as part of its commitment. BTIG's Walter Piecyk thinks Leap, which sells the 16GB iPhone 5 for $500 without contract, could be on the hook for $100M worth of extra iPhone purchases in 2013, and $450 over the course of its 3-year deal. (Muve spinoff)
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