AT&T on iPhone 3G: Increased Earnings and Record Activations
Looks like Apple wasn't the only one to release record-breaking iPhone revenue numbers this week!
Now I have a theory with this one... the iPhone is still doing big business for AT&T, who do you think has helped Apple's cause? RIM! The BlackBerry Bold is finally about to be released on November 4th, should Apple be worried? Not at all. As far as I'm concerned the Bold is old news already and not a threat what so ever. Think the BlackBerry Storm will take customers away from AT&T like the iPhone did from all of the other carriers? No chance... [end rant]
So with that all out of the way, AT&T released it's 3Q earnings today. Since July 11, there have been 2.4 million iPhone activations. And a astonishing 40% of those activations were new AT&T customers. (Let's see the Storm do those numbers with Verizon!.)
AT&T chief executive Randall Stephenson said:
"I am particularly pleased with the customer response to the iPhone 3G, the new customers we're winning are high-value, with attractive revenue and churn profiles."
iPhone 3G sales are currently flowing at a higher-than-expected rate, showing zero signs of slowdown. AT&T is now expecting the iPhone 3G will run higher than its previous estimates. Apple and AT&T are laughing all the way to the bank and will continue to do so.
Love it or hate it - there is no way to dispute which device is king of the cellular hill.