Verizon has beaten estimates on demand for its Droid phones. Verizon reported its earnings and showed that they beat earning estimates and are forecasting a rising profit for the second half. Second quarter profit came in at 58 cents per share compared to analysts prediction of 56 cents per share.
Verizon has introduced several different Droid phones recently by Motorola and HTC and that helped them gain 665,000 contract customers, beating AT&T’s gains. “They’re doing far better than AT&T both from a margin standpoint and a net-add standpoint,” said Christopher King, an analyst at Stifel Nicolaus & Co. in Baltimore. An article on Bloomberg.com reads, “The Android operating system, which is available to any phone maker, is gaining on the iPhone, according to research from Gartner Inc. The iPhone operating system’s share of the global smartphone market grew to 15.4 percent in the first quarter from 10.5 percent a year ago. Android rose to 9.6 percent from 1.6 percent.” The gap iPhone had is narrowing by the minute and it is only a matter of time before Android passes iPhone in market share. iPhone users have to wait years for an updated iPhone whereas Android users can be with any major carrier and get the latest and greatest Android phone.
Next up for Verizon is the HTC Incredible that will now be shipping by August 3rd according to Verizon’s web site.