Sprint to Carry iPhone 5 by Mid-October: WSJ

Sprint Nextel

will begin selling its own version of Apple's

popular iPhone by mid-October, the Wall Street Journal reported Wednesday, citing unnamed sources. The move would allow Sprint to become the third U.S. wireless provider to carry the iPhone. The device has been enormously successful for AT&T

and Verizon Wireless, which is partially owned by Verizon

. Bringing the iPhone to Sprint would also be seen as a measure to rally shareholder confidence. The stock has taken a dive this summer, trading above $5.50 in July before falling below $3.50. According to the Journal report, "The deal could help prop up the nation's third-largest carrier and give AT&T Inc. more ammunition in its attempt to win regulatory approval for its proposed acquisition of No. 4 U.S. carrier T-Mobile USA Inc." Sprint had more than 52 million subscribers at the end of the second quarter. Undoubtedly, the carrier has suffered without the partnership of a flagship device like the iPhone or Motorola

Droid. Apple is expected to announce to new iteration of the iPhone sometime the fall. The renewed iPhone 4 is projected to carry a bigger screen, a better camera and new software. Furthermore, rumors spread early this week that Apple was in early production of a cheaper 8GB iPhone.