T-Mobile reported a remarkable 48% increase in net income for Q4 2024, reflecting a strong performance with 903,000 new postpaid phone customers and service revenues of $16.9 billion. CEO Mike Sievert highlighted this as the company's best growth year, yet hinted at future price increases for customers on older plans. The previous price hikes had led to a class-action lawsuit over alleged violations of the price-lock guarantee, complicating T-Mobile's customer relations amidst otherwise impressive growth figures and expanding customer base.
In our storied growth history, 2024 was our greatest growth year ever across multiple metrics, and we finished strong," said T-Mobile CEO Mike Sievert.
You're going to be hearing about us, for example, getting back to some of the adjustments of legacy pricing that we began last year," said Sievert during the meeting.
The price increases later attracted a class-action lawsuit from outraged customers who claimed that raising prices violated the price-lock guarantee they were promised when the plans were first introduced.
While your price may go down − it may also go up, depending on various factors," emphasizing T-Mobile's pricing strategy.
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