T-Mobile (NASDAQ: TMUS) has been upgrading its infrastructure to keep up with changing emerging technology. IOT connected devices have been projected to grow by 8.3 billion connected devices in 2017 to 20.4 billion by 2020 worldwide. 5G and Narrowband IoT adaption is crucial for the next wave of growth for companies that are facing high competition in retention and expensive customer acquisition. According to J.D. Power report Verizon Communications Inc. (NYSE:VZ), AT&T (NYSE:T), and T-Mobile (NASDAQ:TMUS) have been successful in keeping their customer happy.
T-Mobile (NASDAQ: TMUS) has constantly beaten AT&T and Sprint Corporation in terms of data speed and over the past five years T-Mobile (NASDAQ: TMUS) share price has seen growth of around 366%. Customer support and satisfaction is one of the key areas in customer retention. Solving customer issues whether it be in-store, online, or through social media, reducing customer wait times, training staff to be skilled and knowledgeable in resolving issues will be effective in customer retention but increases retention cost.
By being one of the first in US to complete commercial Narrowband IoT field tests network, T-Mobile (NASDAQ: TMUS) aims to offer faster and better performance with increased cost savings. T-Mobile (NASDAQ: TMUS) Narrowband IoT network uses very small spectrum to carry large amount of data with incredible efficiency with higher speeds and performance. T-Mobile (NASDAQ: TMUS) strong results have earned it significant strong buy ratings. Barclays reiterated its Market Weight rating and has said that it expects revenue to rise by 5.7% and free cash flow of $3.32B by 2018.
Verizon Communications Inc. (NYSE:VZ) unlimited plans have affected its data performance which saw its LTE download fall by at least 2 Mbps, T-Mobile saw an opportunity and had recently run campaign to attract Verizon customers with promotion #GetOutOfTheRed.