Verizon mobile margins fall on strong iPhone sales

Wed Jan 4, 2012 6:52pm EST
 

Verizon Wireless, the biggest U.S. mobile service, also sold 2.2 million smartphones that run on its high-speed wireless network, Verizon said on Wednesday.

In terms of wireline services, Shammo said his company was looking into the option of offering Internet-based video services outside of its service region.

Asked about the impact of Netflix, a key rival in this space, on Verizon's current wireline business, Shammo dismissed market speculation that Verizon might buy that company.

"There's been a lot of rumors in the marketplace about what I'm buying and not buying," Shammo said. "I'm not buying anything."

Instead Shammo said that Verizon could look at partnerships with a potential revenue sharing element in this market.

Verizon Communications shares closed down 52 cents at $39.21 on New York Stock Exchange on Wednesday. In comparison shares in its biggest rival AT&T Inc closed up 5 cents at $30.43.

(Reporting By Sinead Carew; Editing by Richard Chang)