Sprint has this morning reported its financial results for the first quarter of 2013, and they show yet another loss for America’s third-largest carrier. The company announced a $643 million net loss on $8.79 billion revenue, though it did manage to generate a positive operating revenue of $29 million.

Sprint sold 5 million smartphones during the period, 1.5 million of which were iPhones.

SoftBank will combine with Sprint to become one of the world’s largest carriers.

SoftBank, Japan’s third-largest carrier, has this morning announced that it will acquire Sprint in a deal worth $20.1 billion. The company will purchase $8 billion in newly-issues shares from Sprint, in addition to $12.1 billion in existing shares — giving it a 70% stake overall.