Piper Jaffray's findings echo a July study from Parks Associates, which found that more than half of U.S. mobile phone users have some knowledge of the term 4G, but just 20 percent understand what LTE entails.

Confusion about the network technologies is good for Sprint, which has a much smaller LTE footprint than Verizon and AT&T. Given that many consumers don't really care about 4G, "we are somewhat optimistic that the lack of a substantial 4G LTE network will not materially hurt Sprint when the iPhone 5 is launched," according to the note.

From the article, "Nearly Half of Americans Not Craving 4G LTE" by Angela Moscaritolo. 

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