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07-18-2013, 02:23 PM #1
Verizon Tops Q2 2013 Expectations with 3.9 Million iPhone Activations
Apple’s iPhone accounted for more than half of all smartphone activations in the second quarter at Verizon, the largest wireless provider in the U.S. Verizon ended up activating at a total of 7.5 million smartphones in the quarter with about 27% of those new to the carrier. During the conference call with investors and members of the media, Verizon Chief Financial Officer Fran Shammo revealed that 3.8 million of those smartphones were Apple’s iPhone.
In comparison, the company activated just 2.7 million iPhones in the same quarter a year ago. This means that the number of activations grew by 41% year over year at Verizon. The numbers also show that Apple’s share of Verizon’s smartphone activations continues to grow. Just one year ago, the iPhone accounted for less than half of all Verizon activations, as the carrier saw 2.9 million Android-based devices added to its network.
The Cupertino California company also managed to maintain more than half of all smartphones activated at Verizon during the quarter despite the fact that Samsung launched its flagship handset, the Galaxy S4. Verizon didn’t provide a breakdown of exactly how many of the remaining 3.7 million smartphones were Android devices. Verizon also didn’t say how many of the iPhones activated last quarter were Apple’s latest iPhone 5 versus the legacy iPhone 4S and iPhone 4. The carrier did disclose that it activated 6.4 million 4G LTE devices during the quarter, including Apple’s latest iPhone and iPad models.
Verizon’s wireless business saw revenues grow 7.5% year over year to $20 billion for the quarter. Total net retail connections were up by 1 million. According to Verizon Chairman and CEO Lowell McAdam:
Verizon’s consistent strategic investments in wireless, FIOS and global networks drove strong financial performance in the first half of 2013. Having posted double-digit earnings growth in five of the last six quarters, we are focused on continuing to provide the best portfolio of products on the most reliable networks; capturing incremental revenue growth in broadband, video and cloud services; and sustaining our earnings and cash-flow momentum.