BUSINESS
April 19, 2012 | By Michelle Maltais
For Verizon Communication, the iPhone is the gift that keeps giving. Monthly bills for all those iPhone 4S smartphones that found new homes over the holidays are to be thanked for a boost in first-quarter revenue. The impact of the iPhone generated the fastest revenue growth in three years for Verizon Wireless, the country's biggest wireless carrier. The average monthly bill was up 3.6% from a year ago to $55.43. Selling the iPhone is a mixed blessing for carriers. Initially, they bear the cost of the phone, subsidizing them by hundreds of dollars.
BUSINESS
April 18, 2012 | By Jim Puzzanghera, Los Angeles Times
WASHINGTON - Verizon Wireless plans to sell billions of dollars' worth of prime airwaves if regulators approve its planned purchases of new chunks of spectrum primarily from large cable companies. Verizon, which paid about $4.4 billion in 2008 in a government auction of coveted airwaves in the 700-megahertz band, said it no longer would need that spectrum to deploy its fourth-generation LTE network if the cable deals are approved. Among the spectrum Verizon plans to sell are swaths covering Los Angeles, New York, Chicago and other major metropolitan areas.
BUSINESS
April 18, 2012 | By Jim Puzzanghera, This post has been corrected. See the note below for details
WASHINGTON -- Verizon Wireless said it would sell billions of dollars worth of prime airwaves if regulators approve its planned purchases of new chunks of spectrum that come mainly from large cable companies. Verizon paid about $4.4 billion in 2008 in a government auction of coveted airwaves in the 700-megahertz band that the company said it no longer would need if the other deals are approved. The wireless giant's announcement Wednesday was designed to reduce criticism from competitors and public interest groups about its purchase of spectrum from a consortium of Comcast Corp., Time Warner Cable Inc. and Bright House Networks, as well as other acquisitions of spectrum from Cox Communications Inc. and Leap Wireless International Inc. “Since wireless operators, large and small, have expressed concern about the availability of high-quality spectrum, we believe our 700 megahertz licenses will be attractive to a wide range of buyers,” said Molly Feldman, vice president of business development at Verizon Wireless. The Federal Communications Commission and the Department of Justice are reviewing Verizon's new spectrum purchases.
BUSINESS
February 8, 2012 | By David Lazarus
Sprint is the latest wireless service provider to report an earnings hit from subsidizing the iPhone. The company had hoped to give the likes of AT&T and Verizon a run for the iPhone money when it cut a $15.5-billion deal with Apple to carry the white-hot handset. From October to December, Sprint activated about 1.8 million iPhones , compared with 7.6 million at AT&T and 4.3 million at Verizon Wireless. But Sprint estimates that the phone launch widened its quarterly loss by $630 million, or $350 per phone activated.
NEWS
February 6, 2012 | By Nathan Olivarez-Giles
The Motorola Droid Razr is buy one, get one free through Verizon Wireless starting Friday. The limited-time promotion is the latest move from Verizon, the exclusive U.S. carrier of the Razr, in a bid to do just about all it can to get the thinnest 4G phone on the market off store shelves and into the hands of consumers. After launching in November at a price of $299.99 on a two-year data plan, Verizon and Motorola cut the Razr down to $199.99 (and down to 16-gigabytes of included storage from 32 gigabytes)
BUSINESS
December 31, 2011 | By Nathan Olivarez-Giles, Los Angeles Times
Verizon Wireless, under fire from consumers and federal regulators, scrapped plans to charge a $2 "convenience fee" for those who pay their phone bills online or by phone with their credit or debit cards. The decision to cancel the fee was made "in response to customer feedback about the plan, which was designed to improve the efficiency of those transactions," Verizon said in a statement. "At Verizon, we take great care to listen to our customers," said Dan Mead, Verizon Wireless' president and chief executive.