AT&T and other telecom stocks drop on report Amazon looks to offer mobile phone service to Prime customers
Telecom stocks sold off on Friday on a report that said Amazon is looking to offer mobile phone service to its Prime customers.
The e-commerce giant is in talks with Verizon Communications, T-Mobile US, and Dish Network for wireless plans that would cost $10 a month or possibly for no cost at all,If it enters the mobile market, Amazon could resell wireless service from one of the top carriers, according to Bloomberg, noting that Dish could be a big winner as its plan to transform into a cloud-based mobile company from a satellite-TV provider has hit headwinds.
"We are always exploring adding even more benefits for Prime members, but don't have plans to add wireless at this time," an Amazon spokesperson told Insider via email. Amazon had 167 million Prime subscribers as of March, which was flat from a year ago, according to Consumer Intelligence Research Partners.
Members pay about $139 a year for free shipping on orders as well as access to streaming videos and music, but competition from rivals like Walmart has been heating up.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon reportedly in talks to bundle mobile phone service as Prime perkAnother Prime benefit could be on the table.
Read more »
Amazon reportedly in talks to offer free mobile services to Prime membersThe reported talks come as Amazon faces a slowdown in new sign-ups for the Prime service.
Read more »
Amazon is in talks to offer free mobile service to U.S. Prime membersAmazon.com has been talking with wireless carriers about offering low-cost or possibly free nationwide mobile phone service to Prime subscribers, according to people familiar with the situation.
Read more »
Verizon, AT&T stocks sink and Dish shares soar, on reports of talks with Amazon to offer mobile service to Prime membersShares of Verizon Communications Inc. sank 2.6% in morning trading Friday, to pace the Dow Jones Industrial Average’s decliners, after Bloomberg reported...
Read more »
U.S. plans to admit nearly 40,000 asylum-seekers per month through mobile appThe Biden administration is planning to dramatically expand the processing of asylum-seekers along the U.S.-Mexico border by admitting nearly 40,000 migrants at official crossings each month, Department of Homeland Security officials told CBS News.
Read more »