Verizon Wireless, a leading mobile operator in the U.S., reported iPhone sales of over 4.2 million in the holiday quarter, more than double its sales in the earlier quarter. However, according to reports, Fran Shammo, CEO, Verizon has said that the increased sale of the iPhones could impact the profit margins for the final quarter of 2011.
As per sources, Mr. Shammo also revealed that apart from the strong sales of the iPhone, the company also saw high demand for the LTE (Long Term Evolution) enabled smartphones which reached a total of 2.2 million handsets. He added that the sale of these devices at subsidized rates could lead to a decline in the fourth quarter margins by 500 to 600 basis points.
