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Verizon's iPhone Sales Drop 44 Percent

Verizon's iPhone Sales Drop 44 Percent

July 22, 2011
Verizon Wireless announced Friday that it activated 2.3 million iPhone 4 units during its June quarter, which was down significantly quarter-to-quarter. Still, the company’s overall numbers looked good. The nation’s No. 1 carrier activated 177,000 iPhone 4 units during each week of the last quarter. This compares to the 315,000 activations it achieved per week during the January-March quarter, or a drop of 44 percent, according to BGR. Verizon began selling the iPhone 4 on February 10, meaning the company’s first-quarter results included just seven weeks of handset sales. In total, the company has now activated 4.5 million iPhone 4 units in total. Yesterday, AT&T announced that it activated 3.6 million iPhone units during its second quarter. This number, which isn't broken down by handset model, includes sales of both the iPhone 4 and iPhone 3GS. Verizon does not sell the earlier model. While we really don't know which company sold the most iPhone 4s last quarter, we do know that AT&T sold more iPhones overall; 3.6 million versus Verizon's 2.3 million. Meanwhile, for the April-June time period, the company’s revenues were $27.5 billion, up 2.8 percent from the same quarter last year. According to Chairman and CEO Ivan Seidenberg:
“In terms of earnings growth and the acceleration of revenue growth, this has been one of Verizon’s best quarters since the 2008 economic downturn. We expanded sequential margins in both our wireline and wireless businesses, and in the second half of the year we expect Verizon to build on this strong, positive momentum to continue to drive profitable, sustainable growth.”
During the last quarter, the company saw 6.6 percent growth in wireless revenues. In total, total wireless subscribers increased 2.2 million to 106.3 million subscribers in service. What do you think? Leave your comments below.

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