Verizon Wireless has announced their first quarter results and reported that they have activated 2.2 million iPhones in the first quarter and about 500,000 4G devices. Of the 500,000 4G devices, 260,000 were HTC Thunderbolts.
Verizon reported earnings of $3.26 billion on revenues of $26.99 billion. This is better than Wall Street’s expectations of $26.86 billion. Verizon also added 906,000 postpaid subscribers. Below is a statement that Verizon CFO Fran Shammo made:
In a period of less than eight weeks, we activated 2.2 million iPhones, and in two weeks, we activated more than 260,000 of our first 4G LTE smartphone, the HTC ThunderBolt, at the premium price of $249.99. In addition, we added about 250,000 4G Internet devices to our retail postpaid base in the quarter and quickly sold out iPad 2 tablets in early March, so we built good momentum throughout the quarter.
We introduced our first 4G Mobile HotSpot device, and this past Monday, we announced the availability of our second one. We think these 4G Mobile HotSpots will be very popular with customers, as they essentially allow any WiFi-enabled device to function as a 4G LTE networked device. We expect demand for our 4G LTE products to strengthen as more smartphones, tablets and hotspots are added to our device portfolio. This includes the recent launch of the Novatel and Samsung mobile hotspots, as well as the addition of new 4G LTE smartphones in April, May and beyond.