Verizon Beats Back Competitors With Focus on High-End Customers
- No. 1 carrier adds 1.5 million subscribers in fourth quarter
- Verizon's service quality the 'foundation': CFO Shammo
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Verizon Communications Inc. is fending off competitors by focusing on what it knows best: high-paying customers.
In the fourth quarter, the nation’s largest carrier added 1.5 million new postpaid monthly subscribers, who tend to spend more on new devices and data service, beating the 1.4 million average estimate of five analysts surveyed by Bloomberg. The company also retained more customers than it did a year earlier, posting a churn rate -- or pace of monthly defections -- of less than 1 percent, which is lower than a year earlier, according to a statement Thursday.