Sprint struggles to grow market share Sprint Nextel, the third-largest US mobile operator by subscriber numbers, reported a smaller-than-expected net loss in the third quarter helped by smartphone subscriber gains on the Sprint network and higher data revenues. The company, which is the target of a $20.1bn bid for a 70 per cent equity share from SoftBank, the Japanese mobile and internet group, reported a net loss of $767m and a diluted net loss of 26 cents per share for the third quarter compared to a net loss of $301m and a diluted net loss of 10 cents per share in the third quarter of 2011. The latest results include a charge of $397m or 13 cents a share to cover accelerated depreciation primarily related to the expected phased shutdown of the Nextel network. The company, which is in the midst of a turnround based on a significant network upgrade project called Network Vision, added a net 410,000 new Sprint subscribers and managed to persuade almost 60 per cent of Nextel customers leaving that network to move over to Sprint. However, the numbers disappointed some analysts. "Sprint's third-quarter results illustrate just how difficult it is to grow in a market that really isn't growing any more," said Craig Moffett of Bernstein Research. As with AT&T on Wednesday, Sprint's subscriber results missed badly. Sprint's 410,000 post paid net additions on the Sprint platform fell far short of expectations, and their 868,000 subscriber losses on the [Nextel] iDen network were worse.  As part of Network Vision, Sprint has launched a 4G network based on LTE technology in 32 cities and expects that 4G LTE will be available in more than 115 additional cities in the coming months. During the quarter Sprint sold about 1.5m Apple iPhones with 40 per cent representing new customers. Mobile service revenues increased by 6 per cent to nearly $7.3bn and mobile service revenues for the Sprint network grew 14 per cent year-over-year driven by higher monthly subscriber spending and continued subscriber growth. "The Sprint platform performed well, with strong net subscriber additions, record third-quarter postpaid and prepaid churn and robust revenue growth, contributing to adjusted operating income before depreciation and amortisation of $1.28bn even as we continue to invest in Network Vision and position the company for future growth," said Dan Hesse, chief executive. As a result, we believe we will slightly exceed the top of the range of our recently increased adjusted operating income before depreciation and amortisation forecast. Mr Hesse said last week after the SoftBank deal was announced, that the transaction would give Sprint additional financial flexibility and enable the company to become a stronger number three in the US market.