New Verizon CEO eyes next iPhone in the fall

The company previously expected a summer launch, but incoming Verizon Communications CEO Lowell McAdam says they foresee a new iPhone in the fall and that, when it does arrive, it'll boost the company's growth.

Verizon's Lowell McAdam (left) and Apple's Tim Cook (right) at the company's launch event for the Verizon iPhone. Sarah Tew/CNET

Incoming Verizon Communications Chief Executive Lowell McAdam said he expects the next iPhone to launch in the fall, although even he isn't sure.

"You will have to ask Apple that, but we expect that probably sometime in the fall, and I think you will see a significant jump there when we get to that point," McAdam said today during a conference call.

McAdam explained that Verizon's plans to push more customers into smartphones have lagged a bit because it previously thought a new iPhone would launch in the summer. With the next iPhone delayed, people have been holding off on upgrading to the Apple device. As a result, he said the company was a quarter behind on its targets.

At the beginning of the year, Verizon set a goal of getting half of its contract customer base on smartphones. In the second quarter, the company had hit 36 percent. AT&T, meanwhile, said half of its base use smartphones already.

Verizon earlier today reported swinging to a second-quarter profit thanks to the strength in its 4G LTE products, as well as the continued popularity of the iPhone.

Verizon also said McAdam would takeover as CEO on August 1. Outgoing CEO Ivan Seidenberg, who set the succession plan last year, will retain his role as chairman.

About the author

Roger Cheng is the executive editor in charge of breaking news for CNET News. Prior to this, he was on the telecommunications beat and wrote for Dow Jones Newswires and The Wall Street Journal for nearly a decade. He's a devoted Trojan alum and Los Angeles Lakers fan.

 

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