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This week saw Verizon Communications CFO Fran Shammo take part in the Deutsche Bank 2013 Media, Internet & Telecom Conference. With this occasion, ...
This week saw Verizon Communications CFO Fran Shammo take part in the Deutsche Bank 2013 Media, Internet & Telecom Conference. With this occasion, he answered some questions related to Apple’s iconic device – the iPhone.
The carrier released has sold 9.8 million smartphones in the fourth quarter of 2012, and out of that sum more than half – 6.2 million were iPhones. The holiday quarter so far has broke the record in terms of iPhone sales, since the company started selling them back in 2011.
Shammo says that the high number of iPhone sold in the last quarter of 2012 was thanks to the iPhone 4 price drop. For the first time since it took on the Apple smartphone, Verizon has managed to adopt a free-on-contract tactic when selling the above mentioned device. Weirdly enough, it is the 3G facility that attracted customer crowds to purchasing the phone. We say weirdly, because Verizon is no longer interested in supporting the network and all money going into 3G are for maintenance purposes.
The Verizon CEO has been also asked whether he sees the incentivization of Verizon sales force with the purpose of imposing low-cost alternatives. Shammos response to that was a negative one:
"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,” was his answer.