Sprint Corp (NYSE:S) lost 2% in the following claims that AT&T Inc. (NYSE:T) which lost 0.8% had fake branding claims of 5G networking. However, in the last trading session, AT&T gained 0.34% although stocks are stills down following the slump at the beginning of the month. After falling on 5th February Sprint has maintained consistency closing the previous session at $5.9.
The reason why the stock lost previously was a result of the litigation of Sprint over the fake 5G network branding of AT&T.
Fake 5g network branding
AT&T started rolling 5G branding on networks and phones using the 4G LTE technology and as a result, it has come under fire from the rest of the carriers. The latest carrier to take issue with AT&T is Sprint who has filed litigation at the federal that seeks to prevent AT&T from branding devices and advertising using 5GE tags.
In the lawsuit, Sprint claims that they commissioned a survey that established that 54% of consumers who thought the 5GE network is better than 5G or the same. Over 43% of consumers believe that if they acquired the AT&T phone it will be 5G enabled. None of these misconceptions is true. Sprint argues that AT&T is already damaging the reputation of 5G as they work on building legitimate entry into the 5G landscape.
We are offering 5G
In a statement to the claims of fake 5G, AT7T said that their competitors don’t like what they are doing even when they have already customer approval. The company claims that they introduced the 5GE over two years ago and it has been a step by step evolution of 5G standards.
AT&T says that using the 5GE indication and the 5G evolution is meant to let their customers know when they are in areas where network speed is faster than the standard 4LTE. The statement adds that the company is committed to bringing the 5G network to its customers.
On the lawsuit, the company says it will fight it and they will proceed with deployment of 5G evolution as well as mobile standard 5G.