Verizon (NYSE: VZ) CEO Ivan Seidenberg took the old “it’s good for the whole market” tack, when pressed on the iPhone at the Communicopia conference. While he admitted to taking some hits when the device was initially released and when the price was cut, he insisted that the release prompted Verizon’s own customers to look at the higher end handsets that it offers, specifically citing Blackberries and the LG (SEO: 066570) Chocolate. The upshot is that, like AT&T (NYSE: T), the company sees wireless data revenue soaring, as handsets begin to offer a better mobile internet experience. In addition to data revenues, Seidenberg claimed that Verizon Wireless is doing strong music sales, and that it trails only iTunes (although the gap between the two services is a gaping chasm).
700 Mhz Auction: Not surprisingly, Seidenberg had some pretty harsh words for the FCC, per its partial support of open access requirements for the upcoming 700 mhz auction: “The FCC missed train”, and is mistaken if it believes that open access will foster greater wireless competition. As Verizon sees it, the new requirements represent an added cost to doing business, because it would make market participants more hesitant to invest. In his view, the industry’s doing just fine without the government imposing a new market structure.
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