Leap will not re-order the Apple iPhone despite bump up in sales
Leap CEO Doug Hutcheson is now saying that a device financing program being offered by Leap is helping sell more units of the Apple iPhone. During Leap's last earnings call, Hutchinson said that the company is about to roll out another phase of the financing program that will expand it to cover two-thirds of those coming to Leap from post-paid carriers. Despite the recent bump up in iPhone sales, Hutcheson says the company will not purchase any more iPhone units beyond the amount it has contracted for from Apple.
Leap recently reported a loss of 93,037 customers in the first quarter. That was a big improvement on a sequential basis as the carrier lost 337,000 net subscribers in the fourth quarter. A year earlier, the carrier gained 258,060 customers in the first quarter. The mobile operator now has a total of 5.2 million customers. First quarter revenue dropped 4.3% to $789.9 million while service revenue declined 11.6%. Leap reported an operating loss of $29.4 million for the period.
The CEO also said that five more 4G LTE phones were coming to the carrier including the Samsung Galaxy S4.