BASKING RIDGE, NJ — More customers are choosing and staying with Verizon Wireless than with any other brand of wireless service, according to the latest data released by the nation's largest wireless companies.
Since the end of 2004, more customers have chosen to stay with Verizon Wireless, which has consistently had the lowest customer turnover rate among all national wireless carriers [see chart below]. Based on the major carriers' most recent financial reports, Verizon Wireless again had the lowest customer turnover rate in the industry in the 2nd quarter of 2006, the seventh consecutive quarter where it ranked best. Verizon Wireless also now serves more retail customers - 52.6 million -- than any other U.S. wireless carrier.
"Customers choose and stay with Verizon Wireless for the best wireless customer experience," said Lowell McAdam, executive vice president & COO of Verizon Wireless. "Verizon Wireless is dedicated to delivering a positive wireless experience starting with the nation's most reliable wireless network, world-class customer service and an industry-leading lineup of wireless phones and devices, including the new, exclusive Chocolate by LG."
The 2nd quarter of 2006 was the seventh consecutive quarter that Verizon Wireless has maintained the industry's lowest customer turnover, or churn, rate. Churn is the percentage of customers who leave their carrier in a given period and is considered an important measure of customer loyalty. According to 2nd quarter financial performance announcements issued by the nation's largest wireless carriers during the past several weeks, the four major wireless companies' total customer churn rates (for customers with contracts as well as prepay service) were:
Carrier Q2 2006 Churn Rate Verizon Wireless 1.1%**Carrier A 1.7%Carrier B 2.1%*Carrier C 2.9%
For more information about Verizon Wireless, please visit www.verizonwireless.com.
* Post-paid churn rate; total churn rate was not reported** In addition to total churn, Verizon Wireless reported retail postpaid churn of 0.87%, an industry record.
About Verizon Wireless Verizon Wireless owns and operates the nation's most reliable wireless network, serving 54.8 million voice and data customers. Headquartered in Basking Ridge, N.J., Verizon Wireless is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (NYSE and LSE: VOD). Find more information on the Web at 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.####