Best Buy rewards Sprint for vendor excellence

Walk into most Best Buy (NYSE: BBY) stores and you'll see multiple wireless carriers selling services and phones. While competitor Circuit City Stores (NYSE: CC) withdrew from this market some time ago, Best Buy has expanded its involvement and now offers phones and service from the top carriers in the U.S., including Verizon Wireless, Sprint Nextel (NYSE: S) and AT&T (NYSE: T).

Out of those carriers, Sprint recently received the Best Buy Bravo! Award for outstanding vendor performance. Best Buy's presentation to 25 vendors across various categories included Sprint (the only wireless carrier) because of the company's contributions to the Best Buy's success. Considering that the Bravo! Award covers all things wireless -- from post-paid carriers, pay-and-go, wireless accessories and mobile virtual network operators (MVNO) like Virgin Mobile and Amp'd Mobile -- this is a pretty significant score for Sprint.

Sprint was recognized by Best Buy due to providing exclusive handsets to the retailer for sale as well as offering "instant upgrades" inside stores to encourage customers to sign longer contracts (and giving Best Buy a commission). Sprint Nextel is currently the third-largest wireless carrier in the U.S. behind AT&T and Verizon Wireless.