T-Mobile released their financial report for the second quarter of 2012 and all the major carriers’ numbers are in. Verizon decided to take this opportunity to let folks know that they are enjoying the highest rate of customer loyalty as they have the nation’s best postpaid churn rate (meaning they lost the least amount of their customers in percentage) for the quarter.
They only lost .84% of their customers. For comparison’s sake, Sprint posted a churn of 1.69%, AT&T posted .97%, and T-Mobile posted 2.10%.
Considering Verizon has 88.8 million postpaid retail customers it’s impressive that they were able to maintain an industry-leading churn. Verizon attributes their success to the growth of their 4G LTE network (which is now covering 75% of Americans, by the way). Verizon’s ruling the air in more ways than one. Read on for the full presser.
VERIZON WIRELESS TOPS INDUSTRY IN CUSTOMER LOYALTY
BASKING RIDGE, N.J. – For the ninth consecutive quarter, Verizon Wireless leads the industry in customer loyalty among U.S. wireless customers with postpaid contracts. With postpaid churn (turnover) of 0.84 percent, the company reported the lowest customer churn rate of any of the nation’s major wireless providers in the second quarter of 2012.
Churn is a critical measure of customer loyalty, representing the percentage of customers who leave their wireless providers in a given period. Postpaid contract customers represent the largest customer base for the major wireless companies; Verizon Wireless reported 88.8 million retail postpaid customers out of a total of 94.2 million retail customers in the second quarter of 2012, which ended June 30. Second-quarter financial performance announcements by the nation’s major wireless companies – the latest was released today – included the following postpaid customer churn rates, based on averages for the quarter:
Retail Postpaid Churn
Verizon Wireless leads the way with the nation’s largest 4G LTE network, covering nearly 75 percent of the U.S. population; an extensive lineup of 4G LTE-enabled devices, such as the Samsung Galaxy S® III and DROID INCREDIBLE 4G LTE by HTC; as well as HomeFusion Broadband℠, which provides high-speed, in-home Internet access via the company’s 4G LTE network. Additionally, customers can learn the ins and outs of their favorite wireless devices by taking advantage of free Wireless Workshops, offered in-store and online, as part of Verizon Wireless’ award-winning customer care.
Verizon Wireless has invested more than $70 billion since it was formed – more than $6 billion on average every year – to increase coverage and capacity of its premier nationwide network and to add new services.
For more information on Verizon Wireless products and services, go to www.verizonwireless.com, call 1-800-2 JOIN IN or visit a Verizon Wireless Communications Store.
About Verizon Wireless
Verizon Wireless operates the nation’s largest 4G LTE network and largest, most reliable 3G network. The company serves 94.2 million retail customers, including 88.8 million retail postpaid customers. Headquartered in Basking Ridge, N.J., with 78,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE, NASDAQ: VZ) and Vodafone (LSE, NASDAQ: VOD). For more information, visitwww.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/