Economic slowdown to affect Verizon Wireless

While we reported yesterday that Verizon CFO Doreen Tobin assured analysts that Verizon Wireless' revenue growth would remain strong, recent reports note that Toben also hinted that an economic downturn is having a small effect on its wireless business.

"There are pockets of the country, particularly in the Midwest" where some consumers affected by the mortgage crisis are having some trouble paying their bills, Toben told attendees at a Bear Stearns conference. Toben also echoed CEO Ivan Seidenberg's comments last month regarding the carrier's new $99-a-month unlimited plan is off to a good start: "We're seeing a great early response already, with many customers willing to move up on price."

For more on Toben's comments:
- read this article from the WSJ (sub. req.)

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