What the iPhone did for VerizonMay 9, 2011: 1:10 PM ET
The No. 1 carrier signed up 3.4 million new subs last quarter, while its competitors lost share
As Piper Jaffray's Christopher Larson notes in a report to clients Monday, 38% of the new cellular subscriptions last quarter went to Verizon, 11 percentage points ahead of AT&T (T), its nearest competitor.
AT&T had used the iPhone to cut into Verizon's lead for more than three years, although those days were over -- thanks to heavy marketing for Verizon's Google (GOOG) Android phones -- even before AT&T's exclusivity deal with Apple ran out.
Still, says Larson, things could have been worse for AT&T.
"Despite losing share," he writes, "we think it is important to note that AT&T only lost the same percentage point of share as Sprint and T-Mobile despite the significant headwind of losing iPhone exclusivity. Due to its larger size, 1 percentage point of share loss also hurt AT&T less."
Below: The same information shown as gross postpaid new subs, and the data from which both charts were drawn.