- Sprint (NYSE:S) has said that it will deploy LTE Cat 1 across its network by the end of July, spreading a network technology optimized for the Internet of Things.
- The tech -- which actually limits download/upload speeds to 10 Mbps/5 Mbps -- will reduce cost and extend battery life for connected devices.
- It's targeting industrial IoT applications, vending machines and vehicle technologies.
- The company will follow that deployment with two others in 2018: LTE Cat M1 and Cat MB1, extending usage for low-power applications.
- Along with a sliding market today, shares are 7.2% lower, hitting their lowest point since November.