Verizon Loses Wireless Phone Customers
23 Abril 2019 - 9:25AM
Dow Jones News
By Sarah Krouse
Verizon Communications Inc.'s core wireless business lost
lucrative phone customers in the first quarter, as it offered fewer
promotions and focused on upgrading to a faster 5G network.
The carrier said it lost a net 44,000 postpaid phone connections
during the period. Those losses were worse than some analysts
expected and more severe than the same time last year, when it lost
24,000 postpaid phone connections. Verizon added a net 653,000 new
postpaid phone connections during the fourth quarter of 2018.
Wells Fargo analysts said last week that they expected Verizon
to lose 15,000 postpaid phone connections during the period because
it had been less generous with promotions than some of its
rivals.
The largest U.S. carrier by subscribers said it continued to
build out its 5G network and earlier this month began offering 5G
service in Chicago and Minneapolis. It has said it plans to roll
out the service in 30 cities before the end of the year.
Write to Sarah Krouse at sarah.krouse@wsj.com
(END) Dow Jones Newswires
April 23, 2019 08:10 ET (12:10 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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