Verizon, AT&T are ‘in a great place’ on cell phone contracts
AT&I and Verizon are in a “great place” on the cell phone business, CEO Lowell McAdam said during a recent investor call.
“We’re in a position where we’ve got a lot of our competitors out there in the marketplace that have pretty much killed our industry,” McAdam told the audience.
Verizon has made a few moves to boost its share of the market in recent months.
It recently introduced a new line of cell phones that will work with its existing wireless service.
Its wireless network now covers all of New York City, and it’s also expanding into other markets.
AT&T, meanwhile, has also been making strides in its wireless business, which has been hit hard by the fallout from the data breaches at Target and Home Depot.
At a meeting of the company’s board last month, Verizon executives said they expect to add an additional 4 million wireless customers in the coming years, and AT&G executives have said they’re in the process of boosting their numbers as well.
McAdam said AT&S has already ramped up its cell phone coverage in some markets, and said he expects that growth to continue.
“They’re not only going to do a better job of doing that in the next couple of years, but they’re going to continue doing that for the next few years,” McAden said.
And AT&Ts wireless service will be available for at least another five years, he added.
That’s a big improvement over Verizon’s original plan to end the carrier’s cellphone service in 2025.
The company also plans to add more spectrum to its wireless network to provide faster speeds to consumers.
As part of the deal, AT &T also will provide wireless coverage in areas that Verizon didn’t previously cover, McAdens office confirmed to ESPN.
But Verizon and AT >T still have to work out the details on what AT<ys customers can expect in the future.
McAdam also said he sees a potential for Verizon to expand its wireless coverage into areas other than New York, saying he hopes to see “some” of that coverage come from AT&ts network in some other markets in the near future.
Meanwhile, ATM will also get access to the AT&Ts network in areas other states are prohibited from doing business with Verizon.
If Verizon and/or AT>ts can reach a deal, that could help Verizon in its battle with AT&t, which is seeking to block AT&rtampers from providing its cellular service in certain states, McAdam predicted.