Incoming Verizon CEO Lowell McAdam, speaking on CNBC today, noted that revenue growth in the past quarter had been impacted because the next iPhone hasn't been released yet.
"We had assumed that we would see an iPhone early in the summertime as it's been usually, and that's going to be a little bit later in the year now."
In a conference call with analysts today, McAdam suggested analysts check with Apple on when the next iPhone will come out -- but expected it this fall:
"We are probably what I would view as maybe a quarter behind what we had talked about in January, primarily because we expected an iPhone 5 refresh sometime this summer.
We don't know when the next one is going to come out. You will have to ask Apple that, but we expect that probably sometime in the fall, and I think you will see a significant jump there when we get to that point."
We don't know when the next one is going to come out. You will have to ask Apple that, but we expect that probably sometime in the fall, and I think you will see a significant jump there when we get to that point."
Later in the CNBC interview, McAdam discusses Verizon's switch to tiered data plans for smartphones, noting that streaming video is the main reason they dropped unlimited data plans:
"We just converted over to tiered pricing, data tiered pricing, because we see a huge wave of video coming. That's going to take a lot more capacity in the individual networks, and so I think for a lot of customers that won't be an issue from a revenue perspective. But, for the heavy users, we do see the revenue go up significantly."
Lowell McAdam is the current COO of Verizon and will be replacing current CEO Ivan Seidenberg.
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