Sprint to Invest in New High-Speed Services

Sprint Corp. said it would invest about $1 billion, mostly in 2005, to develop high-speed wireless data services that compete with its biggest rival, Verizon Wireless.

Overland Park, Kan.-based Sprint said it would offer high-speed services in select markets this year and sell these services in most of the major U.S. metropolitan markets in 2005.

Verizon Wireless plans to offer high-speed services using the same mobile technology as Sprint in one-third of its network by the end of this year.