With the new iPhone coming out this week, Sprint Nextel Corp. is finally expected to gain access to a device it has long coveted — but at a staggering cost.
The No. 3 wireless company is making a multibillion dollar gamble that Apple Inc.’s gadget will be the ticket to a turnaround, even though Sprint Chief Executive Dan Hesse told the board in August that Sprint would likely lose money on the deal until 2014, according to people familiar with the matter.
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