Wireless Fatcats AT&T and Verizon Had Better Not Miss the Internet of Things [telecom]

Wireless Fatcats AT&T and Verizon Had Better Not Miss the Internet of Things

By Joshua Brustein October 10, 2013

It's been quite a wireless party over the past five years, with Verizon (VZ) bringing in $319 billion (via Verizon Wireless) and AT&T (T) taking $291 billion. But the end of the telecom giants' money-printing era may be in sight.

The frightening thing for wireless providers is that the world is running out of fresh consumers to pay for service. A report published on Thursday by technology market-research firm Ovum predicts that mobile industry revenue will decline for the first time ever in

2018. New connections will have slowed to about 4 percent annually by then, while wireless revenue will grow at less than half that rate, the study maintains.

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