AT&T, Verizon, Sprint lose out by subsidizing Apple's cell phone
(NEWSER) - Apple's profits are soaring , but at the expense of cell phone carriers who subsidize iPhone sales. AT&T, Verizon, and Sprint all pay about $600 for iPhones that they resell to customers for $200. The carriers figure they'll make up the loss with monthly cell phone bills—but Verizon and AT&T stock have both dropped, and Sprint's losses have ballooned by 40%, since they started selling the coveted iPhone, the Los Angeles Times reports. More»
