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A Wireless Carrier Bet Big On iPhones – And It’s Losing Big Time – It could end up with $100 million worth of unsold iPhones sitting around.

Well this is some bad news for Apple shareholders


Leap Wireless, which runs a pre-paid cellphone brand called Cricket, just warned its own shareholders that, after making a very large bet on iPhones, it’s having a very hard time selling them.

Leap says it could end up with $100 million worth of unsold iPhones – and that it’s on pace to sell has a many iPhones as it committed to selling in a contract with Apple.

BTIG Research’s Walter Piecyk dug up Leap’s filing.

Read more: http://www.businessinsider.com/terrible-apple-a-wireless-carrier-bet-big-on-iphones–and-its-losing-big-time-2013-2#ixzz2MDrJMvbX

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