It looks like the US’ largest mobile carrier just got even larger: Verizon has reported that in the fourth quarter of 2013, they’ve added an impressive 1.7 million new customers to their service roster. This brings their total number of customers to a whopping 102.8 million.
Additionally, last year Verizon expanded its LTE network to cover pretty much all of its 3G network coverage area (over 99%, in fact) and bought back Vodafone’s 45 percent share of the company, so they’ve had a pretty busy year.
The new users certainly helped to bolster Verizon’s revenue, which suffered in late 2012 due to the increased cost of pension plans for the company’s employees, along with repairs that were necessitated by Hurricane Sandy.
But Verizon has had a surge in revenue this year due to their latest wave of new customers. They also have 8.8 million new smartphone activations, which was a 3.5% increase from last quarter.
Big Red didn’t get new customers merely from offering the same old services and incentives though. They decreased the cost of their plans while also offering customers the option of upgrading their phones more quickly.
While Sprint and AT&T are losing out to T-Mobile’s new, aggressive and competitive rate plans, Verizon is still flourishing. It could be their growing LTE network and excellent reputation for wide network coverage. What do you think of Verizon?