In the fourth quarter, Verizon added 558,000 new net postpaid phone users

In the fourth quarter, Verizon added 558,000 new net postpaid phone users

Last year, Verizon spent $2.1 billion on C-band 5G as the carrier embarks on a plan to offer these mid-band 5G signals in 46 markets. This year, the company plans on spending between $5 and $6 billion on C-band as it continues to debut mid-band 5G in more areas of the country. In addition, Verizon could be looking to pick up more C-band spectrum during the next auction. As Verizon tries to correct the mistake it made by focusing first on high-band mmWave spectrum for mobile 5G, it hopes to add more C-band spectrum. The carrier figured that the sizzling fast download data speeds of 1Gbps or faster would attract consumers. But mmWave signals don’t travel far and are easily blocked by structures. As a result, in the real world, very few users ever connect to Verizon’s mmWave signals.

Today, Verizon released its fourth-quarter data, revealing that one out of every three Verizon customers now has a 5G phone. This comes after the carrier turned on its mid-band 5G radios using C-band frequencies last week. Because regulators are concerned that 5G C-band signals would interfere with aviation altimeters, making it dangerous to land an aeroplane during periods of poor visibility, Verizon and AT&T have chosen not to launch C-band service near specific U.S. airports.

With over 1 million net additions in postpaid during the fourth quarter of 2021, Verizon saw a huge improvement compared to the 279,000 net increase it announced during the same quarter one year ago. On a sequential basis, the 558,000 net additional postpaid phone subscribers added in Q4 topped the 429,000 that the carrier reported during Q3 of 2021 by 30%. As 2021 came to an end, Verizon had 142.8 million retail connections. Wireless service revenue rose 6.5% to $17.8 billion. The increase was driven by a hike in the amount of revenue generated by each account, volume growth, and the acquisition of TracFone Wireless which took place on November 23rd. TracFone added 20 million subscribers to Verizon’s pre-paid customer list (although to be fair, most TracFone subscribers already were using Verizon’s wireless network).

 

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