Cheaper wireless plans cut into AT&T 2Q profit

Published July 23, 2014 10:32pm ET



NEW YORK (AP) — AT&T Inc. on Wednesday posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US.

AT&T said half of its wireless subscribers have already moved to “Mobile Share Value” plans, introduced in February. It’s also adding subscribers to its Next plans, which carry lower monthly fees because customers pay full price for their phones.

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