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NEW YORK—Subscriber growth for U.S. wireless services companies for fourth quarter 2001 may fall below previous Wall Street expectations, according to analysts from Merrill Lynch.
The research company cut its industry-wide gross subscriber growth forecast from 22 million to 20 million. It also cut 2002 growth expectations from 21 million to 18 million. “We think that growth is slowing, pricing is competitive, marketing costs remain high, and the economy is weak,” said Merrill Lynch analysts in a recent report. “We think that the tougher it gets, the more it’s going to force the issue of consolidation, as carriers come to grips with the changing landscape.”
