T-Mobile US adds record 552,000 postpaid customers in August
By Marina Lopes
WASHINGTON (Reuters) - T-Mobile US added 552,000 postpaid customers in August, more customer additions than any other month in the history of the company, Chief Executive John Legere told investors at a conference in New York on Friday.
The fourth largest U.S. wireless carrier also added 208,000 pre-paid customers in August. Valuable postpaid customers pay for their service after usage, while pre-paid customers pay in advance.
The company has turned around years of subscriber losses through aggressive promotions in the past year and a half. The wave of new subscribers was in part due to the popularity of a promotion that allows customers to add four lines for $100 a month, according to Legere.
"The company is on fire," he said.
The carrier added a total of 2.75 million customers in August, the largest number of monthly subscriber additions in its history, it announced at a company event on Wednesday.
Legere also said that the ratio of subscribers moving from rival Sprint Corp to T-Mobile was 17 to 1 at the height of T-Mobile's Contract Freedom campaign, a promotion launched in January, whereby the company pays early termination fees for subscribers who switch to its network.
The ratio of customers moving from Sprint to T-Mobile is now around 2.3 to 1, Legere said.
In August, T-Mobile rejected a $15 billion bid by France's Iliad as too low. Shortly thereafter, Sprint's $40 billion bid for T-Mobile unraveled under resistance from U.S. regulators who expressed the desire to maintain four competitors in the marketplace. Continued...