Verizon Wireless Adds 1.5 Million Subscribers, Vodafone Issues Warning - InformationWeek
IoT
IoT
Mobile
News
7/22/2008
05:35 PM
50%
50%

Verizon Wireless Adds 1.5 Million Subscribers, Vodafone Issues Warning

Verizon's pending merger with Alltel is expected to add another 13.2 million customers, which will likely bring Verizon's total subscriber base to 80 million.

Verizon Wireless reported that it has added 1.5 million subscribers, bringing its total subscriber base to 68.7 million. The good news, however, was tempered by a report Tuesday from its equity partner Vodafone Group, which said it expected its worldwide revenue to drop.

Verizon Wireless and rival AT&T have been in a subscriber horserace for several months with AT&T, securing 71.4 million customers. However, Verizon's pending merger with Alltel is expected to add another 13.2 million customers -- a move that will likely bring Verizon's total subscriber base to 80 million.

AT&T has been adding new subscribers at a rapid clip because of its exclusive deal to market Apple's iPhone.

Late last year, AT&T added 1.7 million wireless subscribers when it acquired Dobson Communications.

While Verizon Wireless and AT&T have been adding subscribers, third-largest cell phone service provider Sprint Nextel has been losing customers, although Sprint has been showing signs of stabilizing in recent weeks. The fourth-largest wireless firm, T-Mobile, has been adding customers, but it trails the other providers by a sizable margin.

Also on Tuesday, Verizon Wireless' 45% equity partner Vodafone trimmed its revenue predictions, sending many telecom stocks into a tailspin; until the announcement from Vodafone, the largest global wireless provider, the telecom sector was viewed by many as being resistant to the economic downturn that has been spreading in recent months.

"We are beginning to see an impact from the current economic environment which is greater than we expected," said Vodafone chief executive Arun Sarin, according to media reports. Vodafone's results were hardest hit in its Spanish unit.

Verizon Wireless' financial results aren't expected to be revealed until Monday when Verizon Communications is slated to release its second-quarter results.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
2017 State of IT Report
2017 State of IT Report
In today's technology-driven world, "innovation" has become a basic expectation. IT leaders are tasked with making technical magic, improving customer experience, and boosting the bottom line -- yet often without any increase to the IT budget. How are organizations striking the balance between new initiatives and cost control? Download our report to learn about the biggest challenges and how savvy IT executives are overcoming them.
Register for InformationWeek Newsletters
White Papers
Current Issue
Top IT Trends for 2018
As we enter a new year of technology planning, find out about the hot technologies organizations are using to advance their businesses and where the experts say IT is heading.
Video
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Flash Poll