Verizon Sees Record Wireless Subscriber Loss Thanks to T-Mobile While Verizon's in no threat of heading to the poor house any time soon, the company just posted the company's biggest quarterly loss of postpaid subscribers in company's history. According to Verizon's latest earnings report, the company saw a net loss of 289,000 postpaid phone customers during the first quarter of this year, compared to the net gain of 167,000 subscribers that the company saw during the fourth quarter.

The losses are thanks in large part to continued competitive assault from T-Mobile, which continues to add more net subscribers per quarter than any other wireless carrier in the States. Things would have been even worse for Verizon if the company hadn't backtracked on previous statements and begun offering unlimited data plans back in February. Prior to the launch of those plans, Verizon had already seen a net loss of 398,000 postpaid phone customers; losses that began to reverse once Verizon finally buckled and returned to unlimited data. The move was a necessary due to a T-Mobile network that is gaining ground in both speed and coverage. That's eroding Verizon's long-standing claim that it didn't need to compete more seriously on price -- or offer unlimited data -- because it had the far-superior network. It was a sharp about face for a company that has breathlessly insisted for years that consumers neither need nor want unlimited data -- while cracking down fiercely on its grandfathered unlimited data users. Not too surprisingly, company executives don't really want to candidly acknowledge any of this. "Our first-quarter results again demonstrated that customers value a high-quality network experience ," said Chairman and CEO Lowell McAdam. "To build on our loyal customer base and the third-party recognition we have received for network leadership, we extended our wireless and fiber network capabilities, began offering an unlimited pricing option and expanded our opportunities in new markets." Of course Verizon's results more correctly demonstrated the benefits of competition in the wireless space. Benefits that may not linger if a rumored wave of new telecom sector megamergers (including a Sprint acquisition of T-Mobile) take root. Of course Verizon's results more correctly demonstrated the benefits of competition in the wireless space. Benefits that may not linger if a rumored wave of new telecom sector megamergers (including a Sprint acquisition of T-Mobile) take root.







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Most recommended from 93 comments



Frank

Premium Member

join:2000-11-03

somewhere 20 recommendations Frank Premium Member Verizon is terrible.



Of course, the standard reply that some will say is that thier network is supposedly better, however, as time has progressed and other carriers have caught up and continue to make improvements to thier networks the differences are getting more negligible in most metropolitan areas and definately not worth the spyware, snooping, and premiums Verizon charges. Seriously, why would anyone want to deal with a company that sells overpriced wireless service that installs spyware on your phone and even if you dont have thier spyware installed will snoop on your web traffic? Of course, the standard reply that some will say is that thier network is supposedly better, however, as time has progressed and other carriers have caught up and continue to make improvements to thier networks the differences are getting more negligible in most metropolitan areas and definately not worth the spyware, snooping, and premiums Verizon charges.

rebus9

join:2002-03-26

Tampa Bay 13 recommendations rebus9 Member McAdam's Head in the Sand According to Verizon's latest earnings report, the company saw a net loss of 289,000 postpaid phone customers during the first quarter of this year "Our first-quarter results again demonstrated that customers value a high-quality network experience," said Chairman and CEO Lowell McAdam. "To build on our loyal customer base and the third-party recognition we have received for network leadership.....



If he was captain of the Titanic, he would have been trumpeting the unsinkable seaworthiness of the ship as the last railing slipped beneath the surface.



Not saying Verizon is in trouble. Just sayin' McAdam wouldn't admit any concerns even if his shoes were on fire.



Naw.... nothing wrong here, right Lowell?If he was captain of the Titanic, he would have been trumpeting the unsinkable seaworthiness of the ship as the last railing slipped beneath the surface.Not saying Verizon is in trouble. Just sayin' McAdam wouldn't admit any concerns even if his shoes were on fire. techguru308

join:2016-05-19

Cincinnati, OH 10 recommendations techguru308 Member Verizon's arrogant attitude will cost them if they keep it up If Verizon keeps up their arrogant attitude and not add value to their pre paid and post paid subscribers they will lose their number 1 ranking in wireless. Considering that T Mobile USA has acquired enough 600 MHZ and 700 MHZ spectrum to match Verizon's network when they are launched it is only a mater of time. CyberGuy

join:2006-08-21

Colbert, WA 1 edit 9 recommendations CyberGuy Member Couldn't happen to a nicer management team! Former employees crying about another round of layoffs over on reddit/r/Verizon



None of them stood up for me when VZW tossed a paying customer like yesterday's garbage.

karpodiem

Hail to The Victors

Premium Member

join:2008-05-20

Troy, MI 7 recommendations karpodiem Premium Member Net income dropped a cool billion from same quarter last year Billion here, billion there, pretty soon you're talking about real money. eric89074

join:2017-01-25

Las Vegas, NV 6 recommendations eric89074 Member John Legere John Legere is the best CEO since the late Steve Jobs. shanghaista

join:2014-08-03

Canton, MA 4 recommendations shanghaista Member As Intended VZ investors - this is all part of the plan. They were merely shedding undesirable, low-credit customers. Now their base is just high-paying, premium customers. Nice and sustainable for that divvy! Just trying to catch up to AT&T's optimization initiatives.



/s