AT&T and Verizon iPhone sales disappoint

If AT&T and Verizon are any indication, it could be a rough quarter for Apple.

IPhone sales at the two biggest U.S. wireless carriers came in well below expectations. AT&T (T, Fortune 500) said Tuesday morning that it sold 4.3 million of the devices and Verizon (VZ, Fortune 500) reported last week that it sold just 3.2 million in the first three months of 2012.

That's down 43% and 24% respectively from the previous quarter. Wall Street analysts had expected around a million more iPhone sales between the two carriers.

The poor showing is potentially very bad news for Apple. In the fourth quarter, AT&T and Verizon combined to make up 32% of all of Apple's iPhone sales. If that number held steady in the first quarter, Apple will have sold just over 23 million iPhones -- well short of analysts' median estimate of 30 million.

Read Full Article from CNN

- Posted: 2012-04-24 10:52:53

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