T-Mobile is the little engine that could. Today brings forth T-Mobile's Q2 2014 results, and shows that T-Mobile is still going up and up. T-Mobile added 1.5 million new customers in Q2, marking the fifth consecutive quarter with over 1 million new subscribers. The number is slightly down from 2.4 million new additions in Q1, but 1.5 million is still a very impressive number. Even more important is that T-Mobile has now managed to secure 50.5 million subscribers, breaking the coveted 50 million mark.
Revenue is up at the Magenta HQ, with an 8% growth over Q2 2013. Service revenue alone is up 7.1% year-over-year. This comes from the addition of new subscribers, as well as increased phone sales of 6.2 million, showing that customers are not only joining, but are also active and purchasing new devices. T-Mobile's rapid growth is closely tied in with its radical new business strategy of being the "Uncarrier". Changes such as phasing out contracts and offering unlimited data have brought customers over from other carriers, thus allowing T-Mobile to flourish.
We have completely reversed T-Mobile's trajectory and started a revolution that is changing the rules in wireless. Now — with more than 50 million customers, 1.5 million customers added this quarter and 5 quarters in a row of over 1 million net new customers — we are proud to be the fastest growing wireless company in America, with the fastest 4G LTE network and, just this morning, recognized for having the best Customer Service nationwide.John Legere, CEOT-Mobile
That's not all! Just like any good infomercial, there are even more bonuses. Firstly, T-Mobile's Voice over LTE (VoLTE) coverage has satisfactorily reached the requirements of becoming nationwide. Considering that VoLTE launched just months ago, this expansion is incredibly impressive. In the past two months alone, customers have placed over 52 million VoLTE calls, showing that the technlogy works and customers are clearly using it.
T-Mobile network enhancements have been rolling along smoothly. Using the 700MHz spectrum acquired from Verizon, T-Mobile has begun rolling out 700MHz equipment to sites across the nation. These sites are currently being upgraded and should be live by end of the year to improve not only network speed, but also network coverage. Devices that support the 700MHz spectrum are being tested at the moment and are expected to deploy in addition to the new network later this year. All of this comes in addition to T-Mobile's ongoing effort to refarm its 2G network into a 4G LTE network. That initiative is over halfway completed and should finish up in summer 2015.
The team has also been aggressively rolling out Wideband LTE, upgrading our remaining 2G footprint to 4G LTE and starting to roll out our new low-band 700 MHz A-Block spectrum. In fact, in the three months since we got hold of this spectrum, we've already begun equipping sites with 700 MHz gear. Just. Three. Months. And we've begun field-testing our first 700 MHz-compatible devices, so we can get those devices in stores and online—and in customers' hands—before the end of this year.John Legere, CEOT-Mobile
The final burst of good news comes from JD Power and Associates. T-Mobile has received the honor of being number one in customer service among the four major US carriers. In comparison, T-Mobile placed at the bottom just one year ago, when corporate policies and initiatives were getting in the way of great customer service. Along the same lines, T-Mobile-owned MetroPCS also placed top in customer service among its peers.
From what we're seeing today, T-Mobile is on the fast track to success. Not only is T-Mobile gleaning customers from all of the other carriers, but it's not slacking in its other departments. Network enhancements are steaming along, customer service is excelling, and T-Mobile hasn't stopped being radical. Just goes to show, thinking outside of the box isn't a bad thing.
Source: T-Mobile (1), (2), JD Power and Associates
Via: TmoNews (1), (2)
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