Verizon reports 2014 Q1 earnings; lost core phone customers
The pricing battle waged between AT&T and T-Mobile has apparently taken a toll on Verizon Wireless quarterly earnings --- with the 2014 first-quarter earnings reported by the carrier on Thursday showing that it lost core phone customers during the quarter.
However, despite the loss in the figures pertaining to core phone customers, the first quarter was not bad at all for Verizon by any standards. The carrier's customer base increased by 539,000 retail post-paid connections in the reporting quarter. Though the figures marked a plunge from the carrier's 720,000 net additions a year back, all of those new connections came from subscribers connecting 4G tablets to the Verizon network.
Verizon also reported that net new tablet connections signed by the carrier during the 2014 first quarter touched 634,000; thereby increasing its total base on connected tablets by 15 percent in one single quarter, to 4.3 million devices.
Reporting Verizon's 2014 first-quarter earnings, the carrier's Chief Financial Officer Fran Shammo said the tablet market is a relatively untapped market for Verizon. Nonetheless, with the tablets witnessing a lopsided growth in the first quarter, Verizon lost approximately 100,000 smartphone, feature phone or modem customers.
Acknowledging the fact that Verizon is seeing pressure in basic talk and text phones and low-end 3G handsets, Shammo also noted alongside that Verizon has been witnessing a robust growth in higher-end devices.
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