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Verizon releases Q1 2012 results – iPhones make up over half of smartphone sales

On Thursday, April 19th, Verizon issued their Q1 2012 earnings results, showing double-digit earnings growth and increased operating cash. During the call, they also shared around 6.3 million smartphones were sold. Of that total, 3.2 million units were iPhones.

iPhone numbers are down from the previous quarters sales of 4.3 million. However, the total is still high considering the iPhone 4S came out around 6 months ago and is still driving a large amount of sales. The iPhone seems to be also helping consumers switch to smartphones with more expensive monthly contracts. Electronista shares that smartphones make up about 72 percent of all Verizon subscription phones.

While we may have to wait until the next version of the iPhone to see 37 million units sold worldwide as seen in Q4 2011 with the iPhone 4S release, the momentum is still with Apple. The impact to the telecom companies seems to be growing with that momentum as well.

As shared by the Kansas City Star, Verizon added 501,000 contract customers and beat earnings with 59 cents a share compared to the 58 cents a share predicted by analysts. With the addition of new devices, such as the Droid 4 and Razr Maxx, and the new iPad, Verizon also shared a focus of continuing to rollout LTE networks across the U.S. The LTE expansion is now available to over 200 million people in 230 markets across the U.S.

Verizon is moving forward with the help of Apple devices. A hope remains that other wireless carriers build from this shared success as well.

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