Fast-rising wireless carrier T-Mobile is a big winner last year as its subscribers grew two-fold, surpassing its prediction in 2014 in spite of its series of price cuts and new fangled promotions.
T-Mobile piled up 1.3 million monthly subscribers to hike the company’s users to a mammoth 4.9 million in 2014. Last October the company had predicted that their new customers will increase from 4.3 million to 4.7 million total new subscribers for the year. In 2013 the company had 2 million additional users.
The gain is remarkable since T-Mobile is currently at fourth position behind its rivals Verizon, At&T and Sprint and at the same time has faced stiff competitions. To level the playing field into its favor T-Mobile whipped up less expensive plans with more monthly data capacity.
In December its closest rival Sprint which is at third spot among the major carriers hatched out “cut your bill in half” promotion to attract new subscribers from the top US wireless carrier Verizon Communications Inc. and second-running AT&T Inc.
To keep abreast with its rivals T-Mobile also dished out the same offer. AT&T is not to be outdone as it has announced that its customers with shared plans can roll over their unused data to the preceding month.
T-Mobile quips that the company piled up 55 million total wireless subscribers, including prepaid customers via its MetroPCS brand, and now stands toe-to-toe with Sprint. Sprint has had 55 million customers at the end of September and hasn’t made a report yet on its total number of customers just as yet.
T-Mobile Chief Executive Officer John Legere had earlier made a bold forecast that his company would topple Sprint in 2015 eventually clinch the third position.
T-Mobile shares posted a 1.6% to $27.30 at 11:25 a.m., New York time. Whilst AT&T shares plummeted down to 1% to $32.88.