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AT&T Profits Fall 24 Percent but iPhone Subscribers Soar |
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AT&T Profits Fall 24 Percent but iPhone Subscribers Soar
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By Allen Tsai | Thu Jan 29, 2009 2:20 am |
AT&T reported a 24 percent fall in fourth quarter earnings despite strong wireless sales, due to high costs of supporting Apple's popular iPhone 3G.
The top U.S. phone company earned $2.40 billion in the last three months of 2008. That was down from $3.14 billion a year earlier.AT&T added 2.1 million wireless subscribers, ending the quarter with 77 million subscribers. The major draw for customers was Apple's iPhone 3G, for which AT&T is the exclusive U.S. carrier. It added 1.9 million iPhone subscribers in the quarter, down from 2.4 million in the third quarter, when the latest iPhone model was released. Around 40 percent of those signing up for the iPhone were new to AT&T. AT&T pays hundreds of dollars in subsidies for the right to be the sole U.S. carrier for the iPhone. The company has said the iPhone subsides are worthwhile as the popular phone attracts new, higher-spending customers. It aims to make that money back in service fees over the two-year contract attached to each phone. - Apple iPhone 3G Specs
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Fri Feb 03, 2012 2:23 pm | By
Amazon's Kindle Fire is a bigger success than most tablets on the market, but new research reveals several reasons why it has yet to match the iPad.
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Fri Feb 03, 2012 1:51 pm | By
Apple won a reprieve against a German court order banning online sales of Apple's devices, but Motorola eked out a victory that may affect future patent battles.
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Fri Feb 03, 2012 11:53 am | By
Apple is widening its patent case against Samsung in Australia, suggesting the lawsuit between the two competitors is going to intensify before any resolution.
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Thu Feb 02, 2012 3:12 pm | By
Apple hired a former member of Microsoft's Xbox Live team to head its App Store in Europe, in a move to boost its momentum in apps and games.
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Thu Feb 02, 2012 1:31 pm | By
Apple's iPhone sales hit new highs in the fourth quarter, propelling the tech giant to its perch as the world's third-largest cell phone manufacturer.
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More Phones: Apple | AT&T |
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