NEW YORK, NY — (Marketwire) — 09/28/12 — The Wireless Communications Industry has benefited from the rapidly growing demand for smartphones. It is estimated that more than 50 percent of all cellphone users in the U.S. carry a smartphone. The S&P 500 Telecommunication Services Sector Index has gained nearly 22 percent year-to-date, outpacing the S&P 500 Index gain of 14 percent over the same period. The Paragon Report examines investing opportunities in the Wireless Communications Industry and provides equity research on AT&T Inc. (NYSE: T) and Verizon Communications Inc. (NYSE: VZ).
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Recent data has shown that while consumers have cut back spending on amenities coming out of the recession their spending on their phone bills has increased. According to data released from the Labor Department earlier this week in 2011 spending on phone services in the U.S. increased by 4 percent, which was the fastest rate in nearly 7 years. Wireless carriers — such as Verizon and AT&T — had mobile services revenues of 22 billion in 2007, which then soared to 59 billion by 2011, according to UBS AG analysts. UBS expects that number to rise to $109 billion by 2017.
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With a powerful array of network resources that includes the largest 4G network in the nation, AT&T is a leading provider of wireless, Wi-Fi, high speed Internet, voice and cloud-based services. The company recently reported that the iPhone 5 was the fastest selling iPhone the company has ever offered. AT&T is scheduled to release third quarter 2012 results on October 24, 2012.
Verizon Wireless operates America-s most reliable wireless network, with more than 94 million retail customers nationwide. The company in 2011 reported revenues of $111 billion. Verizon has recently agreed to pay a total of approximately $510 million to TiVo, and ActiveVideo to settle all patent infringement lawsuits between the companies.
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