BASKING RIDGE, NJ — Verizon Wireless, provider of the nation’s largest and most reliable 3G network, is also the leader in customer loyalty, reporting the lowest churn (turnover) rate among the nation’s largest wireless carriers in the fourth quarter of 2009.
Churn is an important measure of customer loyalty and represents the percentage of customers who leave their provider in a given period. Fourth-quarter financial performance announcements – the latest was released today – included the following customer churn rates, based on the average monthly churn for the quarter:
Carrier Verizon Wireless Carrier X Carrier Y Carrier Z
Total Customers (Prepay and Postpaid) 1.42% 1.44% N/A 3.3%
Postpaid Customers 1.06% 1.19% 2.11%2.5%
For 20 of the last 21 quarters, Verizon Wireless has led the wireless industry in customer loyalty, reporting the lowest churn rates among the four major U.S. carriers.
“We spend billions of dollars every year to stay ahead of customer demand so we can meet the needs of our customers today and in the future,” said Dan Mead, chief operating officer of Verizon Wireless. “Quarter after quarter, our customers have sent a clear message that our high-speed network, which is the biggest and the best in the wireless industry; our leading customer service; and our expansive lineup of phones and smartphones give our customers the best wireless experience in the industry.”
Verizon Wireless has invested more than $55 billion since it was formed – $5.5 billion on average every year. In 2009 alone, Verizon Wireless invested $7 billion to increase the wireless voice and data coverage of its national network.
Verizon Wireless was the first wireless provider to offer 3G speeds. Today the company has the largest and most reliable 3G network coverage area in the United States. See Verizon Wireless’ 3G coverage for yourself; view a map of Verizon Wireless’ 3G coverage compared with competitors’ 3G coverage here.
For more information on Verizon Wireless, visit www.verizonwireless.com.
To view video of Verizon Wireless’ network in action, visit the VerizonWirelessTV channel on YouTube at www.youtube.com/VerizonWirelessTV.
About Verizon Wireless Verizon Wireless operates the nation’s most reliable and largest wireless voice and 3G data network, serving more than 91 million customers. Headquartered in Basking Ridge, N.J., with 83,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NASDAQ and LSE: VOD). For more information, visit www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.