By 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:
Carrier
Retail Postpaid Churn
Verizon Wireless
0.84%
Carrier X
0.97%
Carrier Y
1.79%
Carrier Z
2.10%
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/multimedia .
Leaving VZW tomorrow, actually, now that i have my GSM GNEX setup on T-Mo for $30/mo. i’ll add my # to that .84%–and i’m giving the CSR a good piece of my mind as to why i’m leaving.
What’s the reason you’re leaving?
Jumping from Verizon to T-Mobile? LOL, good luck with that.
I wonder why you say that? If Tmo has good coverage where he is, and he just bought his Galaxy Nexus outright, how can vzw come anywhere close to that, especially at the price he stated?
T-Mobile is one of the best out there. They may not have the largest network, but its damn good where they are.
Can you tell me little more about the plan you have with t-mobile? I plan to make the exact same switch by buying a gsm gnex
I replied with a link but I guess that got blocked. Google for T-Mobile 4g prepaid plans. You’ll see all the goods.
wall mart plan 30 a month 100min unlimited text data well 2gb at 4g speed then they slow you down
I thought it was 5gigs until they slow u down
It is 5GB. They should really add free calls through WiFi on that plan
Jumping on that same bandwagon this weekend. Cut the carrier contract cord!
Left VZW last month after 11 months of the “BS” lies to me about how its my phone and not their network as to why I don’t get a clean LTE. On AT&T and couldn’t be happier!
Best of luck to you. I left T-Mobile a month ago for Verizon and I haven’t looked back. T-Mobile is a decent carrier but their service isn’t that great in my area and the areas I travel to.
I’m satisfied. The only thing they slack on for me is updates. But that’s OK because my Nexus is rooted and I’m a flashaholic.
Big Red FTW!
More BS from Verizon, yea nice to put out numbers your own company says is accurate.
The slow updates issue isn’t as big a deal as people make it seem. Most of the people who actually know of and care about getting software updates are smart enough to root and flash the update themselves.
Imagine how many customers they would have if they lowered their prices to a more reasonable level, instead of constantly devising ways to squeeze more money out of us to increase their insane profits!
You are correct. There prices are nowhere near reasonable, imo. If they were, I would probably go from being a critic to a loyal customer.
Well when Verizon is thriving what incentive do they have to actually CUT their revenues at a time when they have no competitive pressure to do so.
If more people started leaving Verizon for T-Mobile, you would start seeing Verizon service for a lot cheaper. At&t and Verizon profit margins are INSANE. The perception the general consumer has over their quality is completely unrealistic.
Amazing, considering the increased fees and costs for users. Guess folks just want to pay more for their service.
I left them for Straight Talk and I am glad for every day since.
http://goo.gl/4yZ7X
The increased fees and costs mainly started with the Share Everything plans which started Q3, this is a report about Q2. I have a feeling things may change.
Well If I wanted to upgrade, I would have had to pay $30…..as an existing customer. And they were only going to give me $50 towards a phone on my last new every 2…which is ridiculous.
Prepaid is the way most of the world works and it should be here in the US. The carriers are controlling everything, including software updates, which just makes it worse for consumers.
Any prepaid carriers using VZW towers that has unlimited and decent android phones? I am sick of my crappy service from boostmobile who is a sprint prepaid and vzw was the best coverage around here.
Montis the only prepaid LTE carrier now is Metro PCS
I use Straight talk and see average speeds of 5-7 Mbps down and 2-3 up which is good enough for me. I use the Straight Talk on T-Mobile towers, so coverage is pretty good.
Straight Talk also offers coverage on AT&T network
I get lousy service from boostmobile and hardly ever see 3g on my device. so speeds suck at a lousy 100-150 kbps. So anything would be a big improvement for me.
Yea, I bet if you have good ATT or T-Mobile coverage where you live, you would do better on straight talk by bringing your own phone (GSM) and buying the sim card
opensignalmaps.com has vwz at 94 while the rest are less then 65 cricket is at 64 at&t is at 56, t-mobile is at 50, and sprint is at 46. Zip is 49112 if you wanna take a look for yourself.
Q2 2012? All of those numbers were BEFORE the insane price increases for “sharing plans”.
With Sprint having a lower sub number, it’s % is higher vs same number for Verizon lol
you don’t understand math, do you?
Verizon can suck me until they let me keep my unlimited data.
I am definitely not one of those satisfied customers. In another 1.3 years when my contract ends I am leaving VZ for the following reasons:
1. crappy way they treated GN’s launch (could be forgiven)
2. crappy way they continue to treat GN and their updates (not forgivable)
3. blocking google wallet (yeah yeah I know if you ask them they will say they didn’t block it they asked google to remove it, same garbage. That actually makes it worse imo)
4. 3 national data outage in the first 3 months of my contract (mostly forgivable seeing how it appears to be isolated)
5. ongoing flakey 4g and sometimes even 3g in my area (not forgivable)
I basically had better coverage with sprint even though its not until now that I would get LTE and sprint’s network speed is slower. But I think that is a more worthwhile tradeoff than all the things I listed above.
People must like getting ripped off.
Also left VZW. Prices were highway robbery. On Sprint now; service is mediocre but prices are better. Strongly considering a jump to pre-paid in the future.
Gosh, i guess people are staying because of thier coverage, or because they dont use a lot of data. Only reason im staying is because unlimited data, but we need to stop the big carriers from ripping us off and taking away unlimited data
Unlimited on Sprint FTW!! still waiting for Lte though: (
This is proof!!! Invest in the network, and people will stay. I joined Verizon in March of 2010 cause I knew they would be the 1st carrier in the U.S. with LTE. ATT is lazy!!!
I left Verizon last month for T-mobile prepaid. Verizon was just too expensive, and I was paying for a lot I would never use *coughminutescough.* I gotta say though, I saw the difference in speed and overall coverage almost immediately, but for $30 I can’t complain much. I also left Verizon because I didn’t want to be tied to another carrier branded phone for another 2 years, and they continue to treat the GNex horribly. I went GSM Nexus and am truly loving it.
as a guy who left t-mobile after 11 years for verizon, the one thing they have going for them is talking to a competent american.
As we all know ,these numbers from “Big Red ” are all hype and no truth ! I left VZW ,because I was tired of incorrect billing and I went through three phones ,again not the network ,but the phone ! VZW can kiss my *** ,I would never go back to this company !