Sprint is having a very hard rising above this rut they are in. Quarter after quarter, Sprint is reporting both financial and susbscriber loss. Unfortunately for them, Q1 of this year did not shape up any better. How bad is it you ask? Well this quarter alone, Sprint lost more than 1 million subscribers. Customer loss is not nearly the least of Sprint’s worries at the moment.

Per customer revenue is down to $56, which is attributed to more people using data instead of voice. The overall revenue is down 9% year over year. The losses are being partly attributed to poor customer service, which has been an ongoing complaint for years. To attempt to offset the severe losses, Sprint is said to be considering selling off some of their assets.

Nextel seems to be a continued burden on Sprint. Sprint acquired Nextel for $36 billion. Nextel is estimated to be worth as little as $5 billion today. That is $31 billion in lost cash, not an encouraging figure. Sprint’s already junk rated stock, fell even more on the news. Sprint needs something big, and they need it fast. Let’s hope the whole WiMAX thing pans out for them.

[Via Electronista]