AT&T May Lose 1 Million IPhone Customers to Verizon
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AT&T Inc. may lose as many as 1 million iPhone customers next year as rival Verizon Wireless begins selling the Apple Inc. device, according to analysts’ estimates.
Between 500,000 and 1 million of AT&T’s estimated 18 million iPhone users may end their contracts early or decline to renew them in 2011 in favor of a Verizon Wireless contract, said Barclays Capital analyst James Ratcliffe. Pacific Crest Securities analyst Steve Clement forecast the losses at about 800,000 users.