As a counteractive measure against cut-throat pricing competition in the domestic wireless market, wireless carriers continue to offer several low-priced service plans and attractive promotional discounts, both for individual customers and business entities. Toward this end, Verizon Communications Inc (VZ - Free Report) and T-Mobile US Inc (TMUS - Free Report) are offering latest versions of Pixel 2 and Pixel 2 XL to attract customers. Pixel 2 and Pixel 2 XL are the latest series of Alphabet Inc.’s (GOOGL - Free Report) Google smartphones. Both the phones will come with Android 8.0 Oreo mobile operating system.
Both Verizon and T-Mobile US currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
T-Mobile US is reportedly offering up to 50% cash back on the purchase of the Pixel 2 phone, if switched on to the T-Mobile US network. T-Mobile US will give a $325 instant cash rebate in the form of a prepaid Mastercard gift card. The cash rebate for 64 GB Pixel 2 is almost half the price of the phone when sold in Google's own store. The plain aims to lure customers to the T-Mobile network with their new Pixel 2 or Pixel 2 XL.
However, the offer can be availed only by the original owner of the phone, any devices purchased from third-party sellers are not eligible.
To take advantage of the promotion, new customers need to either shift to T-Mobile US network or activate a new line of service. The customers are required to sign up for the T-Mobile ONE unlimited plan ($70/month, taxes and fees included). Existing customers can also get in on the deal by adding a line to their unlimited plan subscription (T-Mobile ONE or Simple Choice Unlimited).
Several analysts opine that the latest T-Mobile US promotion is an improvement over last year's offer which applied a small discount to the monthly bill for two years.
The news was reported when Verizon recently announced itself as the exclusive wireless partner of Google’s Pixel 2 phones in the United States. However, both the models will also be sold through the Google Store and Project Fi.
Verizon is offering up to $300 off the Pixel 2 phone, when bought from Verizon’s device payment, along with a Google Home Mini for free. Moreover, Verizon and Google are offering a trade-in program of up to $300 (applied over 24 months) and $410, respectively, for old phones.
In this action-packed scenario, it will be interesting to see who among the two — Verizon or T-Mobile US — wins the battle with the maximum number of subscribers and more revenues.
Earlier, all the four major wireless carriers like Verizon, AT&T Inc (T - Free Report) , Sprint Corp (S - Free Report) and T-Mobile US have been offering latest versions of iPhone to lure customers from their rival carriers. iPhone is a line of smartphones designed and marketed by tech giant Apple Inc (AAPL). Wireless carriers like U.S. Cellular Corporation (USM) and T-Mobile US have previously offered iPhone 7 to attract new subscribers.
Accordingly, all these efforts paid off, as the company witnessed a stark improvement in terms of their subscriber statistics in the last reported second-quarter 2017 results.
The price performance of both the U.S. wireless operators looks impressive. Over the past three months, shares of Verizon and T-Mobiles US have returned 13.5% and 1.3%, respectively, compared with the industry’s increase of 5.7%.
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