T-Mobile CEO Talks About Company's 'Data Stash' Program - T-Mobile US (NASDAQ:TMUS)

In a first of its kind of move among cellular companies, T-Mobile US Inc (NYSE: TMUS) announced ‘data stash’ program that will allow its subscribers to roll over their unused 4G LTE data limit from one month to next, up to 12 months.

T-Mobile CEO, John Legere, was on CNBC to discuss this new initiative by the company and the recent decline in company's stock.

Why Is Now The Time For Rollover Data?

"What we are doing is we are attacking one of the most infuriating aspects which is how carriers handle the purchase of data and to make it quick, it's called data stash and […] if you don't use it, you don’t lose it and in effect what's happening now, I'll just give you round numbers. This is a $50 billion issue where carriers are taking back on average three gigabytes of data a month per 100 million customers and this is an attempt for you to be able to buy it and use it and roll it forward," Legere said.

He continued, "secondly, its holidays. So what we are doing is, we are giving all our eligible customers and new customers 10 gigabytes free to start your data stash. So, it's a big move, possibly one of the top two biggest in carrier moves."

Recent Decline In Stock Price

"Right now, we had a little bit of an impact to our stock because of the convertible note offering that we did," Legere said, "but outside of that last couple of days, I actually saw a few analysts upgrading our stock price. When we announce Q4, I'm pretty interested to compare what we have done and how we go into 2015 and show how this company is really performing extremely well."

TMUST-Mobile US Inc

$197.65-0.01%

Overview

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.