Verizon Is Apple's Best Mobile Market Ally: 10 Reasons Why
NEWS ANALYSIS: Verizon showed in its latest earnings and recent marketing that it might just be Apple' best ally in the wireless industry.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.