File this news tidbit under the heading, “The iPhone caused this?”
Verizon Communications Inc. posted a 21 percent drop in profit after pension expenses mounted and business customers cut phone lines. The carrier plans to trim more than 8,000 jobs in the second half.
While AT&T added 1.4 million customers last quarter, most of them iPhone users, Verizon managed to fall further behind with 1.1 million new subscribers. What does the No. 2 US wireless carrier plan to do?
Verizon is in talks to introduce a gaming phone and plans to roll out Palm Inc.’s Pre early next year after the smart phone’s exclusivity agreement ends with No. 3 wireless carrier Sprint Nextel Corp.
A little competition is good for everyone. The only problem is that, other than BlackBerry, there’s little competition.