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See the best of Reuters photography. See more | Photo caption Life in France A look at the people and places that define France's unique culture. Slideshow Strange and unusual A recent sampling of strange and offbeat moments. Slideshow Sprint CEO to take pay cut as iPhone costs pinch Tweet Share this Email Print Related News Apple crushes Street targets, dispels iPhone fears Wed, Apr 25 2012 Sprint's bottom line beats Street estimates Wed, Apr 25 2012 AT&T profit up, helped by iPhone sales drop Tue, Apr 24 2012 NY state sues Sprint for more than $300 million over taxes Thu, Apr 19 2012 Mobile operators unconvinced by Nokia's revival bid Tue, Apr 17 2012 Analysis & Opinion Appleâ€™s valuation isnâ€™t at risk any time soon It’s too soon to be doubting Apple Related Topics Tech » Dan Hesse, CEO of Sprint Nextel Corporation delivers his keynote address at the Cellular Telecommunications Industry Association (CTIA) Enterprise & Applications event in San Diego, California October 11, 2011. Credit: Reuters/Mike Blake Fri May 4, 2012 8:36pm EDT (Reuters) - Sprint Nextel chief Daniel Hesse said he would take a cut in pay this year, after coming under fire from some shareholders disappointed with the hit the company's results took from subsidizing Apple's popular iPhones. Hesse said his 2012 salary would be cut to repay about $346,000 in incentive pay that he has already received and forfeit additional amounts that he was eligible to receive under his 2011 and 2012 incentive plans. "These voluntary actions regarding my personal compensation, which total $3,250,830, will eliminate any benefit for me to the discretionary adjustment the compensation committee made earlier this year," Hesse said in a letter to the company's human resources department. The CEO said his actions would set his 2012 incentive compensation target opportunities back to 2010 levels. Sprint's massive $15 billion bet on selling Apple's iPhones has not gone too well with investors, disappointed that the high subsidies on the device had pushed up costs at the No. 3 U.S. operator, even as it added more subscribers. Sprint, which started taking iPhone orders on October 7, pays Apple a subsidy that is 40 percent higher, or $200 more per device, than what it pays for other phones. (Reporting by Siddharth Cavale in Bangalore; Editing by Bernard Orr) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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