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Verizon Wireless Says That 70 Percent Of Their Customers Now Own A Smartphone

Verizon Wireless Says That 70 Percent Of Their Customers Now Own A Smartphone

January 21, 2014
Verizon Wireless has announced that it added 1.7 million new subscribers during the December quarter. This accounted for nearly half of the 4.1 million net new subscribers they added in 2013. In total, 70 percent of customers now own a smartphone, up from 67 percent at the end of third quarter 2013. For the quarter, the largest carrier in the United States announced a revenue gain of 5.7 percent year over year to $21.1 billion. Revenue from services jumped 8 percent to $17.7 billion. This marks the fifth consecutive quarter of at least 8 percent growth. Verizon also announced that the company’s 4G LTE network is now available in over 500 markets. This accounts for 99 percent of the company’s existing 3G coverage area. Other highlights include:
  • At the end of 2013, the company had 102.8 million retail connections, a 4.7 percent increase year over year - including 96.8 million retail postpaid connections.
  • Verizon Wireless had 35.1 million retail postpaid accounts at the end of the fourth quarter and an average of 2.8 connections per account, up 4.5 percent year over year.
  • Retail postpaid churn was 0.96 percent in fourth-quarter 2013, up 1 basis point year over year and down 1 basis point from third-quarter 2013. Total retail churn was 1.27 percent in fourth-quarter 2013, up 3 basis points year over year.
Apple will announce the financial results of its first fiscal quarter on Monday, Jan. 27.

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