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Telecom & Wireless

Verizon (VZ) May Be Getting Closer To Apple (AAPL) iPhone Deal

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By Douglas A. McIntyre Updated Published
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AT&T (T) has made it clear, very clear that the Apple (AAPL) iPhone is critical to its strategy to increase cellular revenue as its residential landline business shrinks.

The iPhone helps AT&T get new customers and win customers from its rivals Verizon Wireless and Sprint (S).

But, news sources say that AT&T’s exclusive deal to sell the popular handset in the US may be about to end.

According to USA Today,”Verizon and Apple are discussing the possible development of an iPhone for Verizon, with the goal of introducing it next year.” That means that the two largest cellular providers in the country would be going toe-to-toe trying to get consumers to buy the iPhone to use on their 3G system

If Verizon gets an iPhone franchise, it would be a big blow to the earnings future of AT&T. Analysts have counted on the deal with Apple to drive subscribers and data use on the company’s network to keep revenue at the wireless unit rising.

AT&T’s stock looses a lot of its attraction if the engine of it cellular growth breaks down.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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