Not even one of the best promises made by the telecommunications giant, T-Mobile, appears to be able to keep customers on the company’s side. In its Q1 financial statements, the company reported significant losses and also mentioned that 471,000 contract customers either failed to re-up or simply outright cancelled their contracts.
According to the company, they also suffered a shortcoming growth of only 372,000 pre-paid customers, which is a net loss of 99,000 users and a 29% increase in losses over the same period for the previous year.
The company attributed its losses mainly to increased competitive pressures, which in turn lends credence to AT&T’s insistence that Sprint and Verizon are such fierce opponents that it has to acquire T-Mobile for the magenta-tinted carrier to stay in the game.
The losses announced comes as a big shock to the mobile operator sector, and hopefully the provider will be in a position to pull a rabbit from its hat and turn around the increasing fall of its financial income.