[Ry]

Verizon Wireless reports third quarter revenues | Android Central

The carrier says smartphone users contributed heavily to its earnings, noting that some 53 percent of its post-paid (contract) customers now used smart devices. Verizon continues to boast the country's largest 4G LTE network, which it says is now available to some 250 million people across the U.S.

via BGR

Verizon (VZ) delivered a powerhouse autumn quarter — and perhaps the strongest element in the whole report was the new contract subscriber addition figure. Verizon added more than 1.5 million new post-paid subscribers in the third quarter of 2012, up substantially from roughly 900,000 in the second quarter of 2012. Hitting this number despite the supply constraints of the iPhone 5 is a remarkable achievement. What makes it astonishing is that Verizon hiked the price of its cheapest smartphone plan to $90 just ahead of the autumn quarter.

Many consumers complained about the new Verizon pricing strategy in June — Verizon is effectively forcing all new smartphone subscribers to buy unlimited voice and unlimited text packages. But despite the grumbling, Verizon is just barreling on. Substantially cheaper smartphone packages offered by T-Mobile, Sprint , Boost, Virgin and others are not slowing Big Red down one bit.

This may well give Softbank a splitting migraine as it plots the new US strategy for Sprint. Price competition against Verizon does not seem to be effective. Consumers appear to value the superior coverage and wide device range of Verizon so much they are willing to pay a substantial premium for smartphone plans. Just how cheap would Sprint have to offer smartphone plans to begin chipping away at Verizon’s market share? Is some radical move bundling mobile plan with free hardware or other services necessary to break the lock that Verizon and AT&T are now forming on the US smartphone market?

What Verizon demonstrated this past quarter is that it can raise the price of its cheapest available smartphone plan by more than 20% — and just accelerate subscriber growth. That is a heck of a gauntlet to smack Sprint and T-Mobile with. Very few dominant brands in any industry have this kind of pricing power. Sprint and T-Mobile may have to pull a whole new breed of rabbit out of a hat to battle the Verizon juggernaut.

[Eclipse2K]

I've stuck with Verizon because of their superb service and great selection of Android devices. I can honestly say that I would stay with Verizon if I had to give up unlimited data.

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[Mellimel22]

I've had Verizon and can honestly say theres no diff in 10 mb and 25 mb except I don't have data caps and my wallet isn't bleeding my hard earned cash anymore

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[mesocyclonic]

"It's the network". We may gripe about things like the lack of unlimited data if you're not grandfathered in, but Verizon hasn't done anything major that will scare customers away, especially since the #2 carrier (AT&T) tends to be more or less a mirror of Verizon (No unlimited data, shared data plans, similar prices).

The only threat to Verizon's dominance is if another carrier gets a comparable network (and only if it's Sprint or T-Mobile/MetroPCS, as AT&T seems to be fine with the status quo quasi-duopoly). And that isn't happening any time soon.

[Ry]

I've had Verizon and can honestly say theres no diff in 10 mb and 25 mb except I don't have data caps and my wallet isn't bleeding my hard earned cash anymore

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For you, that may be the case.

Verizon's subscriber numbers however show otherwise.

[Mellimel22]

The same for at least ten people I know with sprint or wanna be with sprint. Service in Chicago is real good

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[Ry]

The same for at least ten people I know with sprint or wanna be with sprint. Service in Chicago is real good

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Coverage varies by location.

And again. The numbers show Verizon growing.

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[metz65]

Sounds like all the people who were going to leave Verizon and preached prophecies of damnation and ruin due to all their recent business moves were *GASP* wrong.

We may not like the way we feel Verizon bends us over but like another much maligned company discussed on this site they sure do make the share holders happy with steady and continues gains in profit.

I don't care what kind of phone you have, that's not how I judge someone's worth or intelligence.

[Eclipse2K]

The same for at least ten people I know with sprint or wanna be with sprint. Service in Chicago is real good

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My friends with Sprint constantly drop signal all around the Chicago area including the city and suburbs...

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[Mellimel22]

Haha well I don't and neither do my family

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[Eclipse2K]

Haha well I don't and neither do my family

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It works fine outside but once they enter a building, any building, it cuts out. My bosses out here in Carol Stream always have to walk outside to talk because it breaks up and drops all day. Verizon, AT&T, and T-Mobile do not suffer from this. Sprint also loses signal in every store I've been in with friends including Jewel and Walmart in many different locations. Oh well, as long as it works for you.

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[Mellimel22]

Well I have experienced the opposite I had att and tmo and both dropped calls constantly which as sprint hasn't dropped any calls yet

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[Ry]

And coverage varies.

[johnriii]

and THIS is why I have gotten over losing unlimited data. the numbers don't lie. Verizon is far and above the best carrier out there, and I'm willing to pay a bit more for my service to be more reliable. I had sprint as my last carrier (9 years ago) and the reason I dropped them was because I dropped calls to my wife in the same city DAILY. i'm in KC, and it doesn't seem that 9 years later, their network is any better. I know 12 people with Sprint, and they still complain about dropped calls. so if you are with Sprint and you like their service, you're probably in the minority. Verizon apparently doesn't care about what the 2nd, 3rd and 4th ranked carriers are doing, because they are so far ahead of them on so many levels. I'll stick with Big Red.