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To: Cogito who wrote (11538)	10/22/2011 4:22:01 PM
From: pyslent	Read Replies (1) \| Respond to of 32692

" You're right about how to define "net adds" but that's not the same thing as "new post-paid subscribers," which is what that 880,000 number represents." As far as I can tell, that figure is described as "post paid net adds", not "new post paid subscribers" (which would imply "gross adds" to me). This is how Verizon describes it in the conference call: "During the third quarter, we added over 1.3 million total connections: 882,000 were retail postpaid net adds, 86,000 were retail prepaid and roughly 367,000 were wholesale and other connections. Importantly, 52% of the retail postpaid net adds in the quarter were 4G LTE" smartphones and Internet devices, up from 30% in the second quarter. "

To: Cogito who wrote (11538)	10/23/2011 1:12:12 AM
From: pyslent	Respond to of 32692

Cogito, I re-read the Verizon transcript, and it was clear: retail post-paid gross adds: 3.3 million retail post-paid net adds: 882 thousand "Importantly, 52% of the retail postpaid net adds in the quarter were 4G LTE Smartphones and Internet data devices." I'm convinced that it can only mean that of the 3.3 million post-paid gross ads (= new subscribers), 458K chose a 4G device (13.8%). That statement is intentionally misleading, so it's hard to blame the gullible people that fell for it.