iPhoneForums.Net News Team
- Jun 18, 2010
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Verizon sold 4.2 million iPhones in the fourth quarter of 2011 according to Fran Shammo, chief financial officer of Verizon communications. Reporting the figures, Bloomberg says that this doubles Verizons iPhone sales figures from the third quarter, where the company gained 2 million iPhone customers. Shammo, who was speaking at a Citigroup Inc. event in San Francisco, also said that because Verizon and all carriers in the US sell smartphones initially at a loss to the customer, who is then happy to sign up for a two-year contract, Verzions huge growth in iPhone sales means that the companys gross margins at the wireless business will be narrowed by 500 to 600 basis points.
Bloomberg notes that these latest figures show that Verizon Wireless is proving to be very successful at attracting an increasing share of iPhone customers since it first started selling the iPhone last year, although it still trails behind AT&T who has been selling the iPhone since 2007.
Source: Verizon Sold 4.2 Million IPhones Last Quarter, Shammo Says - Bloomberg