May 8, 2011 02:20 pm EDT

Nearly half a million customers left T-Mobile in Q1 2011

Not even promises of a new Sidekick can keep T-Mobile from hemorrhaging customers, it seems, as the company reported significant losses in its Q1 statement for 2011. According to reports, 471,000 contract customers either failed to re-up, or outright canceled their contracts. Stacked against a shortcoming growth of just 372,000 prepaid customers (including MVNO customers for sub-carriers), T-Mobile suffered a net loss of 99,000 users, a 29% increase in losses over the same period for the previous year. Ouch. The firm chalked its loss to increased "competitive pressures," which lends credence to AT&T's insistence that Sprint and Verizon are such fierce opponents that it has to acquire T-Mobile for the magenta-tinted carrier to stay in the game. You can judge the profits and pitfalls for yourself -- just hit the source link for the full financials.

Nearly half a million customers left T-Mobile in Q1 2011 originally appeared on Engadget on Sun, 08 May 2011 10:20:00 EDT. Please see our terms for use of feeds.

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