The financial results for the second quarter were announced by AT&T. Not surprisingly the figures released make it quite clear that Big Phone is betting the farm on Apple iPhone.

AT&T are subsidising each and every one of the staggering 2.4 million iPhones it has activated during the quarter. The company have said recently in a statement that “increased operating expenses I the second quarter of 2009, in part reflect volume based acquisition costs associated with the success of the iPhone 3GS launch”.

It’s also very pleasing for investors as more than a third of the 2.4 million new phones were purchased by customers who were new to AT&T and they have now locked in for a service contract of two years. It comes as no surprise then that AT&T is supposedly in negotiations with Apple to extend the current iPhone deal.

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