Verizon Wireless continued to distance itself as the nation’s largest wireless carrier during the second quarter, posting 1.3 million net customer additions, which is more than double the customer growth that four of its five nationwide competitors have posted during the quarter. The operator ended the first half of 2003 with 34.6 million total subscribers.
Verizon Wireless added 723,000 net customers during the second quarter of 2002.
Customer churn of 1.7 percent during the second quarter, compared with 2.3 percent last year, helped bolster the carrier’s substantial customer growth. Postpaid churn during the quarter was even lower at 1.4 percent. Verizon Wireless added that average revenue per user increased 1.2 percent from the second quarter of 2002 to more than $49, which added to a more than 14-percent increase in total revenues from $4.8 billion during the second quarter of 2002 to $5.5 billion this year.
In addition, Verizon Wireless said it billed more than 300 million text messages per month during the second quarter and 1.4 billion during the first six months of the year, and its BREW-based Get It Now service grew to 2.5 million downloads a month.
Verizon Wireless’ parent companies Verizon Communications Inc. and Vodafone Group plc also announced the completion of the sale of their controlling interest in Mexican wireless carrier Grupo Iusacell SA to Mexican paging company Movil Access SA for $7.4 million. The sale followed the rejection of three higher bids submitted by Iusacell creditors UBS Securities L.L.C. and Fintech Advisory Inc., which were dismissed due to lack of experience in running a telecommunications company, according to Iusacell.
