By Allen Tsai | Tue Jan 26, 2010 7:07 am |
Verizon said it added 2.2 million wireless subscribers, showing resilience in the face of tougher consumer spending, despite posting a fourth-quarter loss due to its shrinking landline business.
The Basking Ridge, N.J.-based carrier said it added 2.2 million customers -- up from the 1.4 million added last year -- for a total of 91.2 million subscribers. However, it posted a $653 million loss in the quarter, much of it due to a $3 billion charge related to layoffs in its landline sector."We focused on expanding wireless data and set the stage to deploy a nationwide 4G network later this year," said Ivan Seidenberg, Verizon's Chief Executive. "We're facing some more significant headwinds than we thought we would face from the economy." The company has struggled to keep up with rival AT&T, which has exclusive rights to the popular iPhone, despite pushing the Motorola Droid as an alternative during the holiday season. But analysts speculate that AT&T may lose its exclusive hold on Apple's popular handset, and Verizon might sell a version of the device, later this year. Regardless, competition between the two companies has heated up in recent months with a barrage of commercials accusing each other of misleading viewers with TV ads. Last week, Verizon slashed the price of its unlimited voice service to $70 a month from $100. AT&T quickly followed suit.
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Tue Feb 07, 2012 2:31 pm | By
Verizon plans to sell the Motorola Droid 4, its flagship Android 4G device, on February 10 for $200 with a two-year contract.
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Tue Feb 07, 2012 11:49 am | By
Verizon plans to offer a "double-data" promotion, as the carrier attempts to boost its 4G LTE network.
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Mon Feb 06, 2012 1:33 pm | By
Verizon and Redbox plan to launch an online media-streaming service, forging a partnership to compete in the crowded field of digital content delivery.
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Wed Feb 01, 2012 4:22 pm | By
Verizon and Comcast are preparing for a Senate inquiry into their pending spectrum deal, as regulators monitor talks for precious airwaves.
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Tue Jan 24, 2012 1:58 pm | By
Verizon is staking its earnings on data services, despite slumping margins from discounted iPhone sales.
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