Here’s How Apple’s iPhone 5 Announcement Hit Wireless Carriers

Wednesday’s huge iPhone announcement from Apple (NASDAQ:AAPL) had everyone watching. Wireless providers particularly have a vested interest in the hugely popular phone because of the large subsidies they offer on the device in exchange for service contracts, which can eat into profit margins.

Don’t Miss: WOW: Apple iOS Gets This Sexy Makeover.

Amid these fears, Verizon Wireless (NYSE:VZ) CFO Fran Shammo told investors not to worry. Short-term revenue decline related to the company’s new data share plans are lower than expected as customers buy into bigger data buckets. Shammo added that the September 21 launch date for the iPhone is too late in the quarter to substantially affect margins.

Verizon Wireless, AT&T (NYSE:T), and Sprint Nextel (NYSE:S) all have a similar relationship to Apple. Sprint was up 2 percent yesterday, Verizon climbed 1.47 percent, and AT&T ticked up 0.25 percent.

Don’t Miss: More Apple Goodies That ROCK.