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  • Verizon CFO Talks Highly of the iPhone


    Verizon Communications Chief Financial Officer, Fran Shammo, recently said that Apple’s free-on-contract iPhone 4 produced “a lot” of volume for Verizon Wireless and despite its high subsidy costs; the telecom will not offer incentives for sales staff to push low-cost alternatives.

    Shammo’s comments were made during the Deutsche Bank 2013 Media, Internet & Telecom Conference where he fielded a few questions pertaining to the performance of Apple’s iPhone on Verizon’s U.S. network. It was previously announced in January that Apple’s iPhone accounted for 6.2 million of the 9.8 million smartphones Verizon activated in the fourth quarter of 2012, which was thhe strongest period of sales since the carrier started selling the handset in 2011.

    The upstick in iPhone customers according to Shammo, was mostly due to the iPhone 4 price drop, which allowed Verizon to offer a free-on-contract Apple smartphone for the first time. The sales of the handset in turn led to strong growth in 3G subscriber numbers an important point given that the company is no longer investing in building out that network. As of right now, Shammo said that all the capital allocated to Verizon’s 3G services are for maintenance only.

    The CFO was also asked whether he would incentivize Verizon’s salesforce to sell low-subsidy units in an attempt to manage margins. Shammo was against certain practices saying it's important that customers leave a Verizon store with what they want instead. According to a transcript provided by Verizon, Shammo said:

    "The worst thing that can happen for us is for me to incent [sic] a salesperson to get you into a phone that you walk out the door with thinking you are going to like and in three days you come back because you don't like it. Therefore, now I've just subsidized two smartphones because that phone you used I can't resell as a new phone."

    What do you think of Verizon’s stance on the matter?

    Source: Verizon
    This article was originally published in forum thread: Verizon CFO Talks Highly of the iPhone started by Akshay Masand View original post
    Comments 11 Comments
    1. Eonhpi's Avatar
      Eonhpi -
      Verizon only gives a f about the money iphone brings
    1. regkilla's Avatar
      regkilla -
      Quote Originally Posted by Eonhpi View Post
      Verizon only gives a f about the money iphone brings
      AT&T more greedy.
    1. scorpio02150's Avatar
      scorpio02150 -
      great for phone calls, awful for web browsing and texting.
    1. fanboyfanboy's Avatar
      fanboyfanboy -
      Verizon's customer service is 2nd to none. I broke 5 droid 2's and they replaced them with no charge. Didn't even go into the store, I called
      Them over the phone and they just shipped me a new one. Keep I mind I didn't have phone insurance at the time. So they do care alot about their customers. Although I must point out now I bought apple care but I haven't broken my iPhone once yet and I have never used a case... So I can't say if they would do the same for an iPhone, but I would go to apple instead of Verizon anyways if something happened.
    1. Anthony Bouchard's Avatar
      Anthony Bouchard -
      Quote Originally Posted by fanboyfanboy View Post
      Verizon's customer service is 2nd to none. I broke 5 droid 2's and they replaced them with no charge. Didn't even go into the store, I called
      Them over the phone and they just shipped me a new one. Keep I mind I didn't have phone insurance at the time. So they do care alot about their customers. Although I must point out now I bought apple care but I haven't broken my iPhone once yet and I have never used a case... So I can't say if they would do the same for an iPhone, but I would go to apple instead of Verizon anyways if something happened.
      Haha or second to one:



      I actually like AT&T's customer service. They've been speedy for me as you've described.
    1. fanboyfanboy's Avatar
      fanboyfanboy -
      Quote Originally Posted by Anthony Bouchard View Post
      Haha or second to one:



      I actually like AT&T's customer service. They've been speedy for me as you've described.
      I've never had AT&T so I couldn't say for sure or not, but that video was pretty Funny oh people these days...
    1. thinknoffcenter's Avatar
      thinknoffcenter -
      Quote Originally Posted by fanboyfanboy View Post
      I've never had AT&T so I couldn't say for sure or not, but that video was pretty Funny oh people these days...
      Did this guy, or anybody else actually do the math? Verizon is right!
      .002 dollars is 20 cents...i.e. 100 (cents in a dollar) divided by .002 equals 20 cents. In turn he would pay $.20 per kilobyte or $7,179.20 for his 35,896 kilobytes of data used.

      .002 cents (what he was charged per kilobyte)
      here's a break down
      .002 * 10 kb= $.02
      .002 * 50 kb= $.10
      .002 * 100kb = $.20 (what he was charged per 100 kilobytes)

      so 35896 divided by 100 = 358.96

      358.96 * .20 = $71.792

      in conclusion he looks like an idiot to all his bloggers.....or i'm a math idiot too

      its quite confusing but I see where he's coming from after watching it a second time. so I was a math idiot at first also. .002 cents or 2 hundredth of a cent would take 100 kb to equal 1 whole cent though mathematically on a calculator this doesn't happen. 100 * .002 comes out to 20 cents, but had he paid that amount, his actual bill would have been $3.5896 or $3.59 since he would be paying a penny for each 100 kb used.
    1. vinaygoel2000's Avatar
      vinaygoel2000 -
      ^^

      0.002 dollars is 0.2 cents not 20 cents.
    1. Tperry's Avatar
      Tperry -
      Quote Originally Posted by vinaygoel2000 View Post
      ^^

      0.002 dollars is 0.2 cents not 20 cents.
      Somebody forgot tens hundred thousands for decimal notation looks like.
    1. fanboyfanboy's Avatar
      fanboyfanboy -
      Quote Originally Posted by Tperry View Post
      Somebody forgot tens hundred thousands for decimal notation looks like.
      Lol exactly what I was thinking... I know we learned this a long time ago in 5th grade but man it ain't that hard to remember... Haha
    1. xacoffeemx's Avatar
      xacoffeemx -
      Here is the issue with your math:

      .002 * 100kb = $.20 (what he was charged per 100 kilobytes)

      that should not be a dollar sign because.. remember.. we are still at CENTS when we are multiplying .002 * 100kb.

      .002 cents * 100kb = .2 cents per kb, NOT $.2 per kb

      so 35896 divided by 100 = 358.96

      358.96 * .20 CENTS = 71.792 in CENTS




      Quote Originally Posted by thinknoffcenter View Post
      Did this guy, or anybody else actually do the math? Verizon is right!
      .002 dollars is 20 cents...i.e. 100 (cents in a dollar) divided by .002 equals 20 cents. In turn he would pay $.20 per kilobyte or $7,179.20 for his 35,896 kilobytes of data used.

      .002 cents (what he was charged per kilobyte)
      here's a break down
      .002 * 10 kb= $.02
      .002 * 50 kb= $.10
      .002 * 100kb = $.20 (what he was charged per 100 kilobytes)

      so 35896 divided by 100 = 358.96

      358.96 * .20 = $71.792

      in conclusion he looks like an idiot to all his bloggers.....or i'm a math idiot too

      its quite confusing but I see where he's coming from after watching it a second time. so I was a math idiot at first also. .002 cents or 2 hundredth of a cent would take 100 kb to equal 1 whole cent though mathematically on a calculator this doesn't happen. 100 * .002 comes out to 20 cents, but had he paid that amount, his actual bill would have been $3.5896 or $3.59 since he would be paying a penny for each 100 kb used.