Sprint stores get rebrand, begin operating under T-Mobile brand
'The majority of Sprint stores have been updated with T-Mobile branding and a fresh coat of magenta paint'
Sprint retail stores nationwide are getting a fresh look this week as they officially begin to operate under the T-Mobile brand beginning Sunday.
"The majority of Sprint stores have been updated with T-Mobile branding and a fresh coat of magenta paint, and most T-Mobile branded stores can serve both Sprint and T-Mobile customers," T-Mobile wrote on its website. "With a few exceptions, our stores and store employees can now serve Sprint and T-Mobile customers. Sprint and T-Mobile customers can walk in and the employees will be able to say, 'Yes, we can help you!'"
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The move follows the completion of a $26 billion merger agreement between the two companies in April to create a new wireless giant to take on competitors Verizon and AT&T.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| VZ | VERIZON COMMUNICATIONS INC. | 42.67 | +0.45 | +1.06% |
| T | AT&T INC. | 23.14 | +0.32 | +1.38% |
According to T-Mobile, the merger with Sprint will allow the company to "deliver a 5G network second to none and be a supercharged Un-carrier with the ability to up-level competition and better compete on price."
Following the announcement that the merger was completed, T-Mobile said the new 5G network would have "14 times more capacity in the next six years" and give customers access to "average 5G speeds up to eight times faster than current LTE in just a few years and 15 times faster over the next six years."
A Sprint store seen March 11, 2020, in Santa Clara, California. (iStock) (iStock)
The company's goal is to provide 5G to 99 percent of the U.S. population within six years with "average 5G speeds of 100 [Megabits per second] to 90 [percent] of the U.S. population."
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In addition to rebranding Sprint's retail stores, T-Mobile also recently announced a new Un-carrier initiative called Scam Shield which will protect both T-Mobile and Sprint customers from unwanted scams and robocalls.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TMUS | T-MOBILE US INC. | 236.50 | +1.03 | +0.44% |
According to an SEC filing in June, T-Mobile said it expects new postpaid subscriptions to be between 800,000 to 900,000 at the end of the second quarter. The company also expects incur an additional $300 million in merger-related costs "to accelerate synergy realization" and $350 to $450 million in costs related to the coronavirus pandemic.
The company is set to report its second-quarter earnings on Thursday.