Latest news with #MikeSievert
CNA
10 hours ago
- Business
- CNA
T-Mobile US boss set to leave post early, Handelsblatt newspaper reports
FRANKFURT :The head of T-Mobile U.S., the fast-growing and profitable subsidiary of Germany's Deutsche Telekom, is due to step aside before the end of his current contract, German newspaper Handelsblatt reported on Monday. Deutsche Telekom did not immediately respond to a request for comment on the report. Handelsblatt reported Mike Sievert, who has headed the mobile operator since 2020, wanted to take a break and that Chief Operating Officer Srini Gopalan, until recently head of Deutsche Telekom's Germany business, was a leading candidate to succeed him. The chief executive would step down this year or next, the newspaper added. Previously facing troubles, T-Mobile has become a revenue and profit driver in recent years. Thanks to strong figures from the U.S. mobile operator, Deutsche Telekom has raised its earnings targets several times. T-Mobile U.S. customer growth fell short of expectations at the beginning of the year due to an intensified price war. The subsidiary nonetheless aims to win 5.5 to 6 million new users by 2025. Sievert, who joined T-Mobile as marketing head in 2012, had been due to remain in post until 2028.
Reuters
10 hours ago
- Business
- Reuters
T-Mobile US boss set to leave post early, Handelsblatt newspaper reports
FRANKFURT, June 9 (Reuters) - The head of T-Mobile U.S. (TMUS.O), opens new tab, the fast-growing and profitable subsidiary of Germany's Deutsche Telekom ( opens new tab, is due to step aside before the end of his current contract, German newspaper Handelsblatt reported on Monday. Deutsche Telekom did not immediately respond to a request for comment on the report. Handelsblatt reported Mike Sievert, who has headed the mobile operator since 2020, wanted to take a break and that Chief Operating Officer Srini Gopalan, until recently head of Deutsche Telekom's Germany business, was a leading candidate to succeed him. The chief executive would step down this year or next, the newspaper added. Previously facing troubles, T-Mobile has become a revenue and profit driver in recent years. Thanks to strong figures from the U.S. mobile operator, Deutsche Telekom has raised its earnings targets several times. T-Mobile U.S. customer growth fell short of expectations at the beginning of the year due to an intensified price war. The subsidiary nonetheless aims to win 5.5 to 6 million new users by 2025. Sievert, who joined T-Mobile as marketing head in 2012, had been due to remain in post until 2028.
Yahoo
10 hours ago
- Business
- Yahoo
T-Mobile US boss set to leave post early, Handelsblatt newspaper reports
FRANKFURT (Reuters) -The head of T-Mobile U.S., the fast-growing and profitable subsidiary of Germany's Deutsche Telekom, is due to step aside before the end of his current contract, German newspaper Handelsblatt reported on Monday. Deutsche Telekom did not immediately respond to a request for comment on the report. Handelsblatt reported Mike Sievert, who has headed the mobile operator since 2020, wanted to take a break and that Chief Operating Officer Srini Gopalan, until recently head of Deutsche Telekom's Germany business, was a leading candidate to succeed him. The chief executive would step down this year or next, the newspaper added. Previously facing troubles, T-Mobile has become a revenue and profit driver in recent years. Thanks to strong figures from the U.S. mobile operator, Deutsche Telekom has raised its earnings targets several times. T-Mobile U.S. customer growth fell short of expectations at the beginning of the year due to an intensified price war. The subsidiary nonetheless aims to win 5.5 to 6 million new users by 2025. Sievert, who joined T-Mobile as marketing head in 2012, had been due to remain in post until 2028. (Writing by Thomas Escritt;) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Phone Arena
25-05-2025
- Business
- Phone Arena
T-Mobile TPR reportedly turns away customers seeking plans "not profitable enough"
You might not be old enough to remember when T-Mobile was dead last among the four major U.S. wireless carriers. Not only were they among the last of the majors to offer 3G service, they also were among the last to flip the switch turning on 4G LTE. The carrier was not relevant until September 2012 when John Legere was named president and CEO of T-Mobile in the U.S. Taking a customer-first approach, Legere did away with customer pain points such as subsidized phones and the two-year contracts that went with them. He gave T-Mobile the Uncarrier brand to differentiate it from the competition and helped T-Mobile offer zero-rated perks such as free streaming music and Netflix "on us." Legere also made fun of T-Mobile's competitors calling Verizon and AT&T "Dumb and Dumber," respectively. Who would have thought that taking care of customers would turn T-Mobile around? Legere did, obviously, and after acquiring Sprint and making other smaller acquisitions, T-Mobile became the most innovative and fastest-growing wireless provider in the U.S. But after Legere left following the closing of the Sprint deal, his former right-hand man Mike Sievert took over; while T-Mobile continues to report spectacular numbers every quarter, as you probably know, there has been a huge drop in customer service as the current regime has put more emphasis on certain metrics that reps must meet to keep their jobs. Current T-Mobile CEO Mike Sievert (L) sits next to his predecessor, John Legere. | Image credit-T-Mobile Reps barely make any money for selling a new phone unless they also get the customer to add items such as a charger, a case, insurance, and a new line. Since the "suits" frown upon sales of a "naked" phone, a few rogue reps have felt the pressure to add accessories to customers' invoices without their consent. T-Mobile Mobile Experts have gone on social media to detail some of the ways that they trick consumers in order to hit their metrics requirements. As bad as it is in corporate-owned stores, things are worse with the carrier's TPR ( T-Mobile Premium Retailer) stores which are owned and operated by third-party companies with authorization to use the T-Mobile name. These stores look like they are owned and run by T-Mobile , but they are not and many of them have been accused of seriously shady sales tactics. Among the worse of the TPR locations have been those units owned by Arch Telecom. According to the Arch employee, the top brass doesn't want him or other reps to sell this plan because "it's not 'profitable' enough." For some working at stores like this, it doesn't matter to them that seniors with low income are being turned away from buying a plan designed just for them. But the Redditor obviously doesn't think like some of his colleagues and management since he writes, "Never mind that many of these customers are seniors just trying to save money in this economy. Management would rather we push more expensive plans to hit inflated sales goals than do what's right for the customer." -Anonymous Arch Telecom rep on Reddit The post goes on to note that Arch has cut commissions even while reps are being forced to handle the "skyrocketing" numbers of customer complaints. Things look bleak for those reps working for this T-Mobile TPR and most likely others as well. Don't expect T-Mobile to force Arch and others to make any changes. As long as the stock holds at its current level, just 14% from the 52-week high, CEO Sievert and the T-Mobile Board have no incentive to clean things up despite many complaints from T-Mobile subscribers posting online.
Miami Herald
17-05-2025
- Business
- Miami Herald
T-Mobile makes bold move to reverse startling customer behavior
T-Mobile (TMUS) , one of the largest phone carriers in the U.S., recently welcomed a record number of new customers during the first few months of the year. However, it appears to have suffered a significant consequence of recent price increases. While T-Mobile revealed in its first-quarter earnings report for 2025 that it added 495,000 new postpaid phone customers during the quarter, that number is 6% lower than the amount it welcomed during the same time period last year. Don't miss the move: Subscribe to TheStreet's free daily newsletter Also, T-Mobile's postpaid phone churn, the number of customers who cut their phone service, increased by 5 basis points year-over-year. Related: T-Mobile pulls the plug on generous offer, angering customers This trend follows T-Mobile's decision to increase the price for some of its older phone plans by $5 last month. The phone carrier also later hiked its Regulatory Programs & Telco Recovery Fee from $3.49 to $3.99 for voice lines and $1.40 to $1.60 for data-only lines, further angering customers. During an earnings call last month, T-Mobile CEO Mike Sievert said that the recent spike in churn is mainly due to consumers becoming more anxious about the economy. "So overall, you saw across the industry churn was just on the margin a little elevated, and I think there's a number of dynamics there," said Sievert during the call. "That probably has more to do with kind of macro questions than with competition. You know, I think there's a certain element out there where people are in a time of uncertainty about the future, grabbing what they can afford now. And so, you're seeing kind of some amount of probably move forward of upgrades and switching." Image source:Amid this startling change in behavior, T-Mobile has decided to unveil a generous offer to lure back customers who fled to its competitors. The phone carrier has rolled out another iPhone deal that offers new customers a free brand-new iPhone 16 Pro with no trade-in required. In addition, it will also cover up to $800 to help new customers pay off their current phones tied to other phone carriers, regardless of whether the device is locked. Related: T-Mobile CEO has a harsh warning for customers The offer will be available for a limited time to new customers who join T-Mobile's Experience Beyond plan, which offers a five-year price lock guarantee. "At a time when everyone's looking to save and fed up with confusing switcher offers and lengthy-device contracts from the carriers, T-Mobile is making it easier than ever to switch," said Vinayak Hegde, T-Mobile consumer chief marketing officer, in a press release. Over the past few months, T-Mobile has been ramping up its deals after customers reacted negatively to recent price increases for older phone plans, which first started last year. In March, the phone carrier launched two limited-time deals through its T-Life app, offering customers with select accounts free voice lines. It also later introduced a buy one, get one iPhone offer, where customers can buy a new iPhone 15 or 16 device and receive another one for $730 off when they activate a new phone line on a qualifying plan (new customers need to activate two new phone lines). More Retail: Costco quietly plans to offer a convenient service for customersT-Mobile pulls the plug on generous offer, angering customersKellogg sounds alarm on unexpected shift in customer behavior The latest iPhone offer from T-Mobile also comes after the company recently delivered some bad news to customers. Sievert warned during T-Mobile's earnings call last month that the company may have to raise prices for its phones as a result of President Donald Trump's tariff policy (tariffs are taxes companies pay to import goods from overseas). He acknowledged that increasing prices for phones can result in T-Mobile seeing "a slowdown in upgrade rates." "We certainly understand the goals of the (Trump) administration," said Sievert. "It's not clear how much this (tariff policy) is going to affect the handset market. I think to the extent that it does land, and if it's a material thing, ultimately, I think we're going to see that the customer is going to wind up having to bear that cost. Taking on something big on the tariff front is just not something our business model is interested in trying to do or able to try to do." Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
