Verizon is ‘not going to throw away money’ to woo consumers with cheaper phones, CEO says

In a competitive market for wireless deals, Verizon Communications Inc.’s chief executive says the company is “not going to throw away money” on promotions.

The company recently rolled out its deals for Apple Inc.’s
AAPL,
+0.96%
new iPhone 14 line, offering existing customers up to $800 off a new phone, whereas rivals AT&T Inc.
T,
-0.36%
and T-Mobile US Inc.
TMUS,
+3.04%
each offered up to $1,000 off one of the phones for both new and existing subscribers. Verizon
VZ,
-1.13%
offered more lucrative deals of up to $1,000 off a new iPhone, plus a $200 gift card, to users switching over to its network and signing on with certain unlimited plans.