AT&T Says No Surprises on iPhone Defectors

A top AT&T Inc. executive said the company hasn't experienced any surprises regarding subscriber losses after losing its iPhone U.S. exclusivity to Verizon Wireless last month.

AT&T had been the exclusive provider of the iPhone since its launch in 2007. But Verizon Wireless, a joint venture of Verizon Communications Inc. and Vodafone Group PLC, began selling the Apple Inc. device in early February, a development that was expected to crimp AT&T's subscriber growth. Earlier this week, analysts at Wells Fargo suggested the impact of the Verizon iPhone may not be as bad as expected for AT&T, especially as the carrier has made a push to lower its dependence on the device. Wells Fargo estimated AT&T will post a loss of 150,000 contract subscribers in the first quarter, better than the 225,000 loss the firm originally projected.