Verizon loses more-than-expected wireless subscribers

Verizon Communications Inc said on Wednesday it lost more wireless subscribers than expected during the first quarter as it battled intense competition from T-Mobile US Inc and AT&T Inc to attract customers.

As the 5G technology gains traction, customers have been exploring competitive options from the big three telecoms carriers, which are making big investments to upgrade their networks.

Verizon lost 178,000 wireless phone subscribers in the first quarter, more than 121,700 subscriber loss estimated by FactSet.