Economic Slowdown Not Affecting Telecom Fundamentals, Says Verizon CEO

6:05 am on March 21, 2008 | Category: Business, Telecom Services

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America’s second largest telecom operator, Verizon Communications, says that its landline and wireless business haven’t suffered any significant impact as a result of the ongoing economic slowdown.

Sales volume hasn’t shifted and there hasn’t been a change in momentum, said Verizon CEO and Chairman, Ivan Seidenberg, at the recent Open Development Conference hosted by Verizon Wireless.

“There’s nothing out of the ordinary,” Seidenberg commented.

Verizon’s Chief Financial Officer, Doreen Toben, had previously stirred up concerns at an analyst conference when she said that there had been an increase in wireless customers canceling their service because they couldn’t pay their bills. She added, however, that the issue wasn’t affecting financial numbers, and Seidenberg now confirms that it isn’t a serious issue.

Industry watchers and shareholders, however, remain concerned about telecom, as they have been ever since AT&T CEO, Randall Stephenson’s revelation that a higher-than-usual number of landline subscribers were being cut off as a result of inability to pay.

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    Published by TeleClick Enterprises
    Edited by Jeremy Maddock