Ting has registered 3,000 net customer additions for the second quarter of this year, based on the latest quarterly results recently released by Tucows (which operates Ting). Despite the increase, the 3,000 net adds is considered far from being robust, with the company attributing the slow growth to the departure of 1,000 former customers of PTel Mobile (PlatinumTel) who shifted to Ting right after PTel closed, and then proceeded to leave Ting after making the most of the MVNO’s free mobile service.
Still, Noss noted that Ting was able to gain 3,000 new accounts and 6,000 new handsets during the second quarter of this year. As a result, the carrier’s total customer base has now increased to 144,000 accounts, while its total device count has improved to 227,000. As for its customer turnover rate, Noss said that Ting’s churn rate was at 2.4 percent, about the same level as its churn rate during the previous quarter.
Noss also pointed out that Ting’s recent efforts to reduce its prices have also contributed significantly to its quarterly numbers. Just a week ago, Ting had lowered the prices of every other mobile plan except for its $3 per month Small plan, so that customers will pay $10 for each gigabyte of data they consumed on top of the basic rate.
For the second quarter of 2016, Tucows registered net revenues of $47.5 million, which represents an 11 percent increase over the $42.9 million it reported for the second quarter of last year. Tucows also improved on its net income figures, earning $4.1 million during the second quarter of 2016, which is way better than the $2.3 million it registered in the same quarter one year ago.
Source: Fierce Wireless