T-Mobile Adds Net 2.1 Million Customers, Prompted by ‘Un-Carrier’ Program
The ‘Un-Carrier’ program of T-Mobile is reaping positive results, the latest being the record addition of net 2.1 million customers in the second quarter, boosting its subscriber base to 58.9 million and marking a phenomenal increase from 1.5 million customers, a year earlier.
T-Mobile’s net customer addition has surpassed the analysts’ expectations, beating the estimate of analysts at Evercore by 114% and at Jefferies by 84%. Quite expectedly, the shares of T-Mobile rose 2.7% to $39.50 on Thursday.
Further, T-Mobile reported that ‘Post-paid Churn’ or the rate at which customers switch to other networks fell to 1.3% in the second quarter from 1.5% a year earlier, indicating that customers are generally happy with the service or at least, they not unsubscribing for some reasons.
The phenomenal increase in the customer base can be attributed to T-Mobile’s latest series of moves under the ‘Un-Carrier’ program which include revamped pricing plans, getting rid of annual contracts and aggressive marketing campaigns.
Furthermore, T-Mobile has also been offering hundreds of dollars to customers on rival networks to cover switching costs, it has allowed customers’ data usage to roll over from month-to-month and is even offering free music streaming that does not count against a customers’ data use.
T-Mobile’s recent incentive dubbed as ‘Mobile without borders’ will enable subscribers to call, text and use 4G data services throughout Mexico and Canada at no extra cost. The move forms part of the larger, aggressive ‘Un-carrier Amped’ campaign aimed to compete effectively with rivals AT&T and Verizon Wireless which have also geared up efforts to tab the wireless market.
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