- Sprint (NYSE:S) gained 8.5% today to hit its highest point in six weeks, and trim much of the decline it saw coming out the holiday season.
- And just a month after quietly killing off its offering of two-year subsidized-phone contracts (and loudly proclaiming the benefits of leasing), it's quietly brought back the option for customers.
- It's the only one of the big four carriers to do so. "We listened to our customers and are giving them more choices to get their new device," a spokeswoman tells FierceWireless.
- And there are choices: Customers can choose leasing a phone, as with its heavily promoted "iPhone Forever" and "Galaxy Forever" frequent-upgrade deals. But they can also pay for a phone via monthly installments, pay full price, or (now) choose a 24-month subsidy contract again.
- Leasing is a "churn killer," Sprint CFO Tarek Robbiati said at an investment conference last month, and allowed the company another revenue stream by selling refurbished products. But after being among the last carriers to drop subsidies (T-Mobile kicked off the trend in 2013), Sprint's now the only one offering that option.
- Sprint shares are down 8% YTD.
- Previously: New Samsungs see Sprint moving more into leasing while AT&T, Verizon wait (Feb. 23 2016)