T-Mobile US (TMUS) has been shaking up the telecom industry since its flamboyant CEO, John Legere, took over the reins in September 2012. He did so again at the Consumer Electronics Show (CES), sending his rivals tumbling.
He announced a double down on the company’s “un-carrier” strategy. While not taking a specific shot at AT&T Inc. (T), T-Mobile announced $650 in credit and incentives to users switching from any other wireless service. The company is offering $350 to cover early termination fees, along with $300 in device exchange for customers that sign up for a postpaid T-Mobile plan.
Legere’s presentation at CES on Wednesday night is causing the markets to react. The company’s three competitors AT&T, Verizon Communication Inc. (VZ), and Sprint Corporation (S) should be concerned. Stock prices for all three were down, with AT&T and Verizon being down a little over 2%, while Sprint stock declined over 5.5% yesterday.
Read More : AT&T
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