Three things worth knowing today: AT&T just posted its best subscriber quarter in years while Verizon barely broke even, carriers are throwing their biggest Samsung Galaxy S26 discounts on the table right now, and a new breakdown of "free phone" deals spells out what you actually sign up for.
AT&T pulled away from Verizon on Q1 subscribers
First-quarter 2026 earnings landed this week, and the gap between AT&T and Verizon was hard to miss. AT&T added 294,000 postpaid phone subscribers in Q1. Verizon added 55,000 — and analysts noted that Verizon's positive result was its first in Q1 since 2013. They finished within a rounding error of each other on total revenue growth (both up 2.9% year over year), but AT&T beat Wall Street's revenue target while Verizon missed.
Both carriers also closed big fiber deals this quarter. AT&T completed its $5.75 billion acquisition of Lumen's Mass Markets fiber business, adding about 4 million fiber locations and 1 million subscribers. Verizon finished its $20 billion purchase of Frontier Communications, expanding its fiber footprint significantly.
What this means for you: subscriber momentum matters because carriers compete harder when they feel pressure. Verizon trailing on adds typically produces better switch-in deals — look for Verizon to push aggressive promotions heading into Q2. AT&T's stronger quarter may mean it leans less on price and more on bundled perks. If you're on the fence between the two, the next six to eight weeks may be a good time to see what each will offer a new line.
The "free phone" deal is a 36-month financial commitment
A detailed breakdown published yesterday pulled apart how AT&T, Verizon, and T-Mobile structure their "$0 phone" promotions, and the mechanics are worth knowing before you accept one.
The short version: the phone isn't free, it's financed and offset by bill credits. The credits run for the duration of your device payment plan, which means:
- AT&T and Verizon deals typically run 36 months. Leave early and you pay off whatever's left on the device — though competing carriers often pay those balances to lure switchers.
- T-Mobile deals run 24 months. A shorter commitment, but still two years.
- The credits usually kick in a bill or two after activation, not at checkout. Your first bill may look higher than expected.
- These deals nearly always require the carrier's most expensive plan tiers. The "free" device can cost you $20–$40 extra per month in plan upgrades versus what you'd pay on a mid-tier line.
- Trade-in requirements often apply. If your current phone doesn't qualify or its condition drops the trade-in value, the effective cost of the deal rises.
What this means for you: run the math across the full contract period. Add up 36 months of the required premium plan, subtract what you'd pay on a mid-tier plan with a phone you already own or bought outright, and compare that against the phone's retail price. The deal often still comes out ahead — but not always, especially if you're already on a cheaper plan that the promotion forces you to leave.
Samsung Galaxy S26 deals are the most aggressive of the year so far
Carriers are competing hardest right now on Samsung Galaxy S26 promotions. T-Mobile is currently offering a $1,300 discount on the Galaxy S26 Ultra without requiring a trade-in on premium plans — the highest-scoring single offer in current promotional tracking. Verizon and AT&T responded by increasing subsidies on their S26 lineup and relaxing trade-in eligibility requirements.
Part of what's driving this: millions of customers who locked into 36-month financing plans are rolling off those commitments in 2026. When the financing ends, the monthly bill credit disappears and the switching barrier drops to near zero. Carriers know this, so they're spending to lock in upgrades before those customers comparison-shop.
On the iPhone side, Apple held the line on iPhone 17e pricing year over year — with a $100 reduction on the 512 GB model — and carrier responses are more mixed. AT&T left its iPhone 17e offers mostly unchanged. Verizon and T-Mobile added non-subsidy incentives to stay competitive.
What this means for you: if you've been waiting to upgrade an Android device, the next few weeks are an unusually good window. The S26 Ultra deal pool is at its deepest point of the year. For iPhone buyers, the gains are smaller and depend on which carrier you're switching from or staying with.
The SaveOnPhone read
- AT&T's subscriber lead is real, but Verizon's pressure to catch up historically produces better deals for switchers. Keep an eye on Verizon through June.
- Before accepting a "free phone," calculate the required plan cost across the full 24 or 36 months — not just the device credit. The plan delta often shrinks or eliminates the savings.
- T-Mobile's S26 Ultra deal is the strongest no-trade-in offer in the market right now, but it requires a premium plan. Confirm the all-in monthly cost before pulling the trigger.
- If your current phone financing ends this spring or summer, you have real leverage. Carriers know you're about to be free-agent. Use it.
What to do this week
- Check when your current device financing ends — look for it on your carrier's app or billing page. If it's within 90 days, you're in the most negotiable window you'll have.
- Model the "free phone" math for any S26 deal you're considering: (required premium plan × 36 months) minus (your current plan × 36 months) equals the real cost of the "free" phone. Compare it to the retail price.
- Compare Verizon's switch-in offers against AT&T's and T-Mobile's — a carrier trailing on Q1 adds tends to offer the most to new customers in the following quarter.
- If you're buying on T-Mobile and want the S26 deal, confirm the trade-in requirement for your specific model and condition before activating — eligibility cutoffs change frequently.
Sources
- AT&T vs. Verizon Q1 2026 earnings comparison, 5GStore (April 29, 2026): 5gstore.com
- "The Truth About Verizon, AT&T, and T-Mobile 'Free' Phones," Droid Life (April 29, 2026): droid-life.com
- "T-Mobile, Verizon, AT&T Go All-In On Discounts As Churn Surge Hits," Yahoo Finance (April 2026): finance.yahoo.com