Verizon Announces Earnings for Q4 2012, Activated 6.4M iPhones in the Quarter
Verizon has reported its earnings for the 4th quarter of 2012, becoming the first of the four major U.S carriers to report its earnings. According to GigaOm, the carrier activated over 9.8 million total smartphones, with 6.4 million or two-thirds of them being iPhones.
Verizon’s earnings are strange, however, particularly because half of the total iPhone activations consisted of the iPhone 5. This means that Verizon customers continue to purchase the older iPhone 4 and 4S, despite the newer generation enjoying majority of sales at other carriers such as AT&T and Sprint.
It sold 7.3 million LTE devices the last three months of 2012, and it activated 9.8 million smartphones in total. It activated 6.2 million iPhones, about half of which were the LTE-enabled iPhone 5.
Verizon was also one of the first carriers to start widely implementing 4G LTE in most of its new smartphone offerings. According to AllThingsD, Verizon is slowing the expansion of its 3G network in order to build its 4G LTE network and add more devices. About 23% of all devices on Verizon operate on the carrier’s 4G network, justifying its dedication to expanding its LTE network and adding more subscribers.
With Verizon reporting strong sales of not only the iPhone 5 but older generations of the iPhone, it is no surprise that Apple is also reporting its best financial quarter. Last quarter, Verizon activated 3.1 million iPhones, nearly 46% of its smartphone sales. With the carrier adding more devices to its LTE network, it will be interesting to see how its sales shift once Apple releases a new generation of the iPhone.