AT&T has released their financial results for Q1 2011. Long story short, the company activated some 3.6 million iPhones throughout the quarter, which is up almost a million units from a year ago.* A tidy 23% of subscribers were new to the iPhone and AT&T. That number is down however, as most iPhone customers are already signed up for one carrier or another in the US. That said, AT&T claims that their retention rate is the same as the year-ago quarter. That means people aren’t jumping ship to Verizon as fast as had been predicted.
Personally, I thought Verizon would be eating AT&T’s lunch. I really, truly am surprised that AT&T hasn’t taken a bigger hit. However, this is only one quarter, and many iPhone customers are still locked into their contracts with AT&T. When those begin to come up for renewal, then we’ll talk.
* This doesn’t mean AT&T actually sold 3.6 million iPhones, but instead how many they activated/ reactivated. See, some customers either sell, or hand down their iPhones to other people, who then in turn, have to activate them through AT&T. It’s a numbers game.
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