Verizon Wireless on April 18 announced its earnings for the first quarter of 2013, and not surprisingly, given its recent history, the company performed exceedingly well.
Total net new customers were up to 677,000 and its profit came in at $1.95 billion, up from the $1.67 billion profit it generated during the same period last year. Verizon's revenue also landed at $29.42 billion, making it another great quarter for the wireless provider.
But arguably the biggest news that came out of Verizon's earnings was the company's iPhone sales during the period. According to Verizon, in Q1 it sold 4 million iPhones, and sold 9.7 million devices in total. Apple's iPhone sales on Verizon were up 25 percent compared with last year, indicating that the relationship between the companies is going well for both sides.
More importantly, that relationship might turn out to be one of the central pieces of Apple's ability to succeed over the long term in the mobile market. Right now, Verizon appears to be Apple's best ally, selling millions of iPhones and not trying to be like AT&T by pushing every Android device under the sun.
If Apple knows what's good for it—and it does—it'll continue to improve its relationship with Verizon and keep it healthy. Doing so will make Apple billions of dollars.
Read on to find out more on why Apple is Verizon's best ally:
1. iPhone sales are up
Although some people seemed disappointed that Verizon sold "just" 4 million iPhones during the first quarter, the fact is that's up from the 3.2 million Apple handsets the company sold last year. Considering that, Apple shouldn't have any problem with Verizon or how well it pushed the iPhone during the first quarter.
2. AT&T was only happy with exclusivity
When AT&T was the only U.S. carrier to offer the iPhone, the company couldn't have loved Apple any more. But now that all four major carriers are selling the iPhone, AT&T has been increasingly trying to attract Android vendors. AT&T realized that it was too reliant upon Apple for its success. So it has been pushing more Android devices on customers. That's not a good thing for the iPhone maker.
3. It's a huge company
Verizon, one of the largest wireless services providers in the U.S., is just the kind of company that Apple would want to be its top ally in the wireless market. With its net new additions last quarter, Verizon was able to service 98.9 million customers. That can't be overlooked by Apple.
4. It's all about LTE
One of the big reasons Verizon is so important to Apple is its LTE network. Right now, Verizon's network is the largest in the U.S., covering nearly everyone who lives in the country across 491 markets. What's more, Verizon's LTE network is larger than those of all of its competitors' networks combined. That's quite an achievement.