Verizon to fall billions short on iPhone contract?

Updated

Verizon may end up owing Apple billions of dollars in 2013 due to a purchase commitment for iPhones, according to a report. Telecommunications analyst Craig Moffett estimates the carrier could have a shortfall of $12 billion to $14 billion, with Verizon obligated to buy $23.5 billion in iPhones this year; a second analyst concurs with the lower number. Such a shortfall could spark some negotiation between Verizon and Apple on how to fill the gap. Neither Apple nor Verizon commented on the report. Notably, the report suggests that Sprint will likely be able to meet its own commitment to buy $15.5 billion in iPhones during over four years. Sprint started selling the iPhone in 2011. [via Bloomberg]

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Phil Dzikiy

Phil Dzikiy was the Editor-in-Cheif at iLounge. He mostly edited and oversaw all site editorial content, managed staff and freelancers, made the final call on product review grades and awards, and led online coverage of all Apple events and live coverage of the International CES in 2015.