T-Mobile US, a significant player in the US telecommunications industry, has maintained its leadership position in customer growth in 2023, despite a notable decrease compared to its previous year’s performance. The company, which recently revealed its annual and quarterly financial results, continues to outpace its main competitors, AT&T and Verizon, particularly in the postpaid mobile customer segment.
In 2023, T-Mobile reported an addition of 5.7 million postpaid net customers, with 1.6 million of these gained in the fourth quarter alone. Their postpaid phone net additions totaled 3.1 million for the year, with 934,000 added in the last quarter. CEO Mike Sievert highlighted these figures as “industry-leading customer results,” emphasizing the company’s overall excellence in the telecom sector.
Comparatively, AT&T and Verizon trailed behind. AT&T added 526,000 postpaid phone customers in the fourth quarter and 1.7 million throughout the year. Verizon’s figures were even less, with 449,000 additions in the fourth quarter and just 430,000 for the year. These numbers underscore T-Mobile’s dominance, even as the overall growth in customer additions slows down across the industry.
Despite the decrease in net additions compared to the previous years, T-Mobile is optimistic about maintaining its lead. The company forecasts 5 to 5.5 million postpaid net customer additions for 2024, aiming to top the industry for the tenth consecutive year. This forecast, however, is slightly lower than the 5.7 million additions in 2023 and 6.4 million in 2022.
Peter Osvaldik, T-Mobile’s CFO, noted that this projection aligns with the company’s focus on profitable growth and anticipates a moderation in total industry net additions. He also mentioned a slight decrease in growth projections for T-Mobile’s fixed wireless (FWA) customer base, a sector where the company has recently intensified its efforts.
As of the end of 2023, T-Mobile’s FWA customer base stood at 4.8 million, with expectations to reach between 7 and 8 million by the end of 2025. This target comes despite a scaling back of promotional pricing and an anticipated shift to net additions in the 400,000 range. In comparison, Verizon also reported positive growth in FWA, aiming for 4 to 5 million customers by 2025.
Overall, T-Mobile’s performance, particularly in the FWA market, positions it as an increasingly significant player in the US telecom industry, challenging traditional broadband services and affirming its status as a top-tier operator.
