More evidence of the readiness of US consumers to defy the recession to acquire the latest wireless phone technology was provided yesterday by Verizon Wireless and RadioShack.
Verizon Wireless – the largest US mobile phone carrier company that is 55 per cent owned by Verizon Communications and 45 per cent by Vodafone – reported that it added 1.2m net new customers during the third quarter, even as it faced intense competition from AT&T's exclusive carrier alliance with Apple's iPhone.
Analysts at Bernstein Research said Verizon's net wireless additions during the quarter had been the highest since 2005 and “much higher than expectations”. Bernstein said increased margins from phone plan sales – supported by a rise in the use of data by smartphone users – “continued to sparkle”.