Verizon Adds 1.3 Million Net New Customers In Third Quarter Of 2015
The biggest wireless carrier in America has just announced that it has gained an additional 1.3 million net new customers during the third quarter of this year, including a total of 430,000 phone subscribers. Impressive net new customer figures notwithstanding, the Big Red’s revelations indicate that subscribers are still holding on to their Verizon Wireless subscriptions, even though competitors such as AT&T, T-Mobile, and Sprint have all upped their games. All that competition though has helped immensely in keeping prices lower (mostly) as well as facilitating the introduction of new and better wireless services.
For years, Verizon Wireless has always prided itself in building a reputation as the leader in terms of reliability of network coverage. While it is true that its lead has about shrunk in recent years, the general consensus among American mobile consumers is that the Big Red still has an advantage over AT&T (who is not far behind) and T-Mobile (who claims it now has the fastest connection speeds for data).
So while Verizon Wireless is still considered the undisputed leader, the other big three wireless carriers in the United States are starting to gain on it. Last month, T-Mobile’s chief executive officer John Legere announced that his company had managed to add 2.1 million net new customers during the third quarter of this year. A few days later, AT&T took the opportunity to reveal that it has gained over 2 million customers also in the same quarter.
Compared to the 2 million plus net new customers added by AT&T and T-Mobile, Verizon’s 1.3 million may appear tame in comparison. But the Big Red does boast a very low customer turnover rate of just 0.93 percent. This indicates that so far, Verizon Wireless has managed to do a great job of retaining its existing subscribers, even as its competitors are continuing to make efforts to grab away some of the industry leader’s customer base. Moreover, just like the past few quarters, much of Verizon’s growth is attributed to the fact that lots of subscribers are going for tablet devices -- the wireless carrier has in fact gained 818,000 new tablet customers during the third quarter of 2015.
Apart from gaining new customers, Verizon Wireless has also gained some changes. Back in August of this year, the wireless carrier announced that it was discontinuing its usual practice of signing up subscribers to those standard two year agreements in exchange for smartphone subsidies. What the Big Red is doing now is have its subscribers pay a lower monthly fee in exchange for paying for their handset either outright or via monthly installments. Also, Verizon also increased the prices of its unlimited data plans by $20. And it should be noted that the wireless carrier no longer offers its unlimited data plans to new subscribers. For more information on Verizon’s wireless services, you can compare plans and phones from Verizon at MyRatePlan now.