“AT&T Inc. used to draw in subscribers by the millions with the lure of the iPhone. Now, it’s mostly selling iPhones to its own customers, who are trading up from other AT&T phones,” Peter Svensson reports for The Associated Press.

“The drop in recruitment from other carriers was made clear Wednesday as AT&T said it added just 62,000 net new subscribers on contract-based plans in the first quarter, a record low,” Svensson reports. “In many previous quarters, the number was above a million.”

Svensson reports, “The difference is that Verizon Wireless started selling the iPhone on Feb. 10, ending three and half years of exclusivity for AT&T.”

Read more in the full article here.

[Thanks to MacDailyNews Reader "sperryj" for the heads up.]