Between AT&T and Verizon, cellular data service was a $13.3 billion business in the second quarter of 2012. Combined, the two have almost 88 million U.S. smartphone (i.e. lucrative) subscribers. These relatively quiet — though not gentle — giants have a firm handle on what happens in the mobile economy.
Verizon and AT&T are making more money than ever, and smartphones are the engines of the growth. Not only is that growth not slowing as the market becomes saturated, it is making the telecom pair the 800-pound gorillas in the nation’s mobile economy.
AT&T has aggressively pushed its customers to smartphones. Almost 62%, or 43.1 million, of its postpaid subscribers (as opposed to pre-paid customers) are using the devices. Verizon has 44.4 million smartphone subscribers, half of its 88.8 million wireless postpaid subscription base.
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