Verizon Wireless (VZ) sold 4.2 million iPhones during the fourth quarter of last year but failed to meet its full-year guidance of selling 11 million of Apple’s (AAPL) iconic devices. The results were provided by Fran Shammo, Verizon’s executive vice president and chief financial officer, who spoke at Citi Investment Research’s Global Entertainment, Media & Telecommunications Conference on Jan. 4.
Shammo also noted that the carrier sold 2.2 million LTE devices during the quarter showing that consumers are drawn more to a device than a network.
The strong sales of both the iPhone and of LTE devices is set to impact the carrier’s bottom line, Shammo said, as wireless margins will drop sequentially because of higher device subsidies required to move smartphones at appealing prices.
Analysts are expecting the iPhone to have a dramatic impact on fourth-quarter results, both for the carriers offering the device as well as those that are still out of the loop.
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