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Verizon’s iPhone to Win Customers, AT&T’s Chief Says

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Jan. 12 (Bloomberg) -- Verizon Wireless will take market share with its iPhone, AT&T Inc. Chief Executive Officer Randall Stephenson said.

“There’s a competitor in the marketplace, you know, competing for the same phone, so we’ll be sharing the market, sure,” Stephenson said in an interview after appearing at a policy forum in Washington today.

Verizon, the largest U.S. mobile phone carrier, said yesterday it will offer Apple Inc.’s iPhone 4 beginning Feb. 10, ending Dallas-based AT&T’s exclusive hold on the device.

Asked how many customers Verizon might take from AT&T, Stephenson said, “I don’t know.”

The iPhone, the iPad and other wireless devices are placing demands on networks, Stephenson said during the forum at the Brookings Institution.

“We have got to do something to free up more spectrum -- get more spectrum into the hands of operators,” he said.

Editors: Allan Holmes, Anthony Gnoffo

To contact the reporter on this story: Todd Shields in Washington at tshields3@bloomberg.net

To contact the editor responsible for this story: Allan Holmes at aholmes25@bloomberg.net.

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