Verizon (VZ, Financial) has issued a warning about potential weak growth in its first-quarter subscriber numbers, attributing this to fierce competition in the market. This competitive landscape has been fueled by rivals engaging in various promotional activities to attract customers.
Frank Boulben, Verizon's Chief Revenue Officer, highlighted that while Verizon removed some consumer incentives following significant promotions in December, their competitors continued with aggressive marketing strategies. This has intensified the competition, impacting Verizon's ability to grow its subscriber base as expected.
As the telecommunications industry remains highly competitive, Verizon is facing challenges in maintaining its market share amidst ongoing promotional battles. The company's strategic decisions regarding consumer incentives will be crucial in navigating this competitive environment.
