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LTE Devices & iPhones Drive Verizon Wireless In Q4 2011

Verizon Wireless held their fourth quarter earnings announcement on Tuesday morning before stock trading began.

As expected, Verizon Wireless a unit of Verizon Corp, had a great fourth quarter fueled by sales of the iPhone and 4G/LTE devices. Verizon reportedly sold 4.3 million iPhones in Q4 2011, and 2.3 million LTE devices which encompasses Android powered smartphones and data devices like hotspots, USB sticks, and tablets.

More after the break
Verizon’s CFO Fran Shammo confirmed that the company is still ahead of schedule with their LTE rollout. Verizon Wireless has the largest 4G LTE network in the world and as of Monday morning they cover over 200 million pops in 195 markets.  Shammo also reported that 4G/LTE sales were fueled by Verizon Wireless’ double your data promotion that closed out the year.

Also ahead of schedule, Shammo reports that Verizon’s 4G/LTE network should mirror their CDMA network coverage by mid 2013.  That goal was moved up from the end of 2013 that was reported in 2011.

Verizon Wireless’ total revenue for Q4 2011 was $18.3 billion dollars which was up 13% from the same quarter last year. Data revenue was up to $6.3 billion dollars, a 19.2 percent increase from the same quarter in 2010.

At the end of 2011 Verizon Wireless has 108.7 million total connections. That number represents 92.2 million retail connections and 16.5 million wholesale and other connections.  Overall churn was down 14 basis points year over year.

Verizon Wireless’ 4G LTE network was named the best product of 2011 by PC World magazine. Their growth of 4G/LTE continues at record speed. At the International Consumer Electronics Show in Las Vegas earlier this month Verizon Wireless announced that it would be a requirement that future smartphones must have 4G/LTE.

Speaking of smartphones, smartphones on Verizon Wireless accounted for 44% of their retail postpaid phone base. That was up from 39% in Q3 and 28% in Q4 2010. Shammo also said that 78 percent of all retail phones sold in Q4 were smartphones.

source: Verizon Wireless and Fierce

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