Summary
- T-Mobile has acquired Mint Mobile and Ultra Mobile, adding to its hold on the market.
- The FCC has approved the deal, paving the way for the acquisition to become official on May 1.
- The company’s earnings call reveals impressive revenue and subscriber gains over competitors.
For years, phone owners in the US were limited to less than a handful of mobile service providers that dominated the industry. As of late, more independent carriers have popped up, offering budget-friendly plans with no strings attached. While the carrier giants that rule the market may argue they never felt threatened, it hasn’t stopped them from taking some protective measures. In the case of T-Mobile, it appears that this is manifesting in the acquisition of what could have become another competitor.
How to find your T-Mobile account number
You will not need it often, but it’s good to know where to find it
According to publicly released documentation from the Federal Communications Commission (PDF warning), T-Mobile has received approval from the regulatory body to acquire Mint Mobile and UVNV, the company behind Ultra Mobile (via Fierce Network). T-Mobile also revealed in its earnings call for the first quarter of 2024 that it plans to complete the acquisitions by May 1. Company CEO Mike Sievert reiterated his belief that its “un-carrier” model is not only consistent, but it’s working.
T-Mobile continues to outpace its competitors
Another noteworthy data point that emerged from the Q1 earnings call was the $16.1 billion in total service revenue that the company earned, which is a 4 percent increase year-over-year. It also boasted 532,000 net postpaid phone subscribers in Q1, which is more than AT&T (a gain of 349,000) and Verizon (a loss of 68,000) in the same time frame. On top of this, T-Mobile claims it added 405,000 high-speed internet customers.
Although the company may not be as well known for its internet service, T-Mobile’s home internet has been growing in popularity – especially as customers continue to take advantage of a key loophole. For a while, it’s been possible to leverage a T-Mobile home internet plan while traveling, giving customers an underlying perk. However, the company recently announced a crackdown beginning on May 8, which will require users to verify their location. This came on the heels of it launching new home internet plans that include the option of connectivity on the go – a far cry from the no-cost loophole. That being said, it should be interesting to see how Mint Mobile and Ultra Mobile plans and pricing change – if at all – following T-Mobile’s acquisition.
