US mobile phone operator Verizon Wireless sold 4.2 million iPhones in the fourth quarter of 2011, it has been revealed.
According to Bloomberg, Fran Shammo, the chief financial officer of Verizon Communications, the parent company of Verizon Wireless, informed that the company had sold 4.2 million Apple iPhone devices in the fourth quarter. This number is more than double than the third quarter iPhone sales.
"Given the volume, we're going to see a 500 to 600 basis point decrease in wireless margins in the fourth quarter," said Shammo in an interview at the Citibank Global Entertainment, Media & Telecommunications Conference.
Verizon Wireless started offering the iPhone 4 last year, becoming the second carrier in the US to offer the best selling device. Before this, AT&T was the sole provider of Apple iPhone in the United States.
The company had sold 2 million iPhones during the third quarter while rival AT&T sold 2.7 million iPhones. Shammo also revealed that the company had sold 2.2 million Long Term Evolution (LTE) 4G devices in the fourth quarter.
Verizon Wireless has been faring better than AT&T in terms of customer acquisition largely due to its LTE and Android based devices portfolio.