A Look At T-Mobile's Wholesale Wireless Business

T-Mobile’s wholesale segment – which includes its Machine-to-Machine (M2M) and Mobile Virtual Network Operator connections – has been growing rapidly driven by the Internet of Things trend and a maturing U.S. wireless market. The carrier’s wholesale subscriber base has risen from from about 6 million in 2011 to close to 14 million in 2015 and we project that the number could grow to about 22 million by 2020. Although this business is not significantly accretive to the carrier’s financi...