The carrier intends to lop off as much $1.7 billion in network equipment and other capital goods in fiscal year 2016. Sprint invested $4.7 billion in the 2015 fiscal year and $5.4 billion in 2014, according to RCRWireless.
Sprint delivered the news earlier this
week when it announced its quarterly financial results with a focus on
cost reductions in the coming months and quarters.
In its outlook, Sprint management said it expected to see a $2 billion
savings from handset lease restructuring and pick up a 40 percent
reduction in its capex budget. The strategy got a lukewarm response by some on Wall Street.