Apple iPhone Sales: Leap Wireless Not Happy with Apple iPhone Sales

Apple Inc (AAPL)Apple iPhone Sales: Leap Wireless, known by many as the owner of Cricket, has not been happy with Apple Inc. (NASDAQ:AAPL) iPhone sales. In fact, it was recently revealed in a filing with the U.S. Securities and Exchange Commission that Cricket only expects to purchase 50 percent of the iPhone smartphones it committed to during the first year of its agreement with the Cupertino-based company.

Apple is actually the smart money’s second favorite publicly traded company (see why it’s important to pay attention to hedge fund activity).

BGR.com first reported the news, and it is interesting to see that Leap Wireless is struggling where other carriers, such as AT&T and Verizon, have excelled. Is there a reason for this?

Here is what the report by BGR had to say:

“The carrier revealed that it is on pace to purchase only half of its first-year commitment from Apple through June 2013. The information in the filing contradicts earlier statements made by the company’s chief financial officers Jerry Elliot. The executive previously said that “sales of Apple devices were pretty good in the fourth quarter” and the carrier wasn’t concerned about meeting its commitment with Apple.”

As you can see, something went wrong along the way. One way or the next, this is not good news for either Leap Wireless or Apple Inc. (NASDAQ:AAPL).

What does this mean to the people of Leap Wireless? Will they owe Apple a lot of money? The same article goes on to explain that this could definitely be the case:

“As noted by BTIG Research analyst Walter Piecyk, Leap could now be on the hook for $100 million of additional iPhone purchases in 2013 and $450 million over the course of its three-year contract.”

As you can see, it is Leap Wireless that is in the bad spot right now. While Apple Inc. (NASDAQ:AAPL) is surely disappointed with the fact that the company is not buying more smartphones, the fact remains that Leap is on the hook and this could cost the carrier hundreds of millions of dollars in the years to come.

Do you have any opinion on why Leap Wireless has been unable to move more Apple Inc. (NASDAQ:AAPL) iPhones? Be sure to share your opinion in the comment section below.

Check back here for more updates on Apple iPhone Sales.

DISCLOSURE: I have no positions in any stock mentioned.

For more news stories, visit the following three pages:

Apple Inc. CEO Tim Cook Discusses Falling Share Price

Adobe Photoshop Touch for Phone for Apple Inc. Devices

Top Quotes from Apple Inc. Q&A Session with CEO at Shareholder Meeting

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!