An analyst from Wachovia Securities issued a report yesterday that said the Pre was doing little to woo new customers to the Sprint network. Analysts Jennifer Fritzsche issued the report after surveying retail outlets and finding that most buyers were existing Sprint customers.

As a result of the report, shares in Sprint and Palm declined with Sprint shares falling 6.1% to $5.11 per share and palm stock slipping 68 cents per share to $13.67. Trading today saw Sprint shares go back up 7 cents per share while Palm remained down 30 cents per share.

I think it’s not exactly fair to place much of the blame on the Pre for failing to woo new customers to Sprint. While some users are very happy with the network, Sprint is much smaller than AT&T or Verizon and the Pre would have undoubtedly done better had it launched on one of the more popular networks.

[via Fierce Wireless]