• One of the three major US wireless carriers, similar to Verizon or AT&T.
• The "challenger" among US wireless providers, akin to how Southwest Airlines redefined air travel with a customer-centric, value-driven approach.

• Mobile Voice, Text, and Data Services: Providing wireless connectivity for calls, messages, and internet access on mobile devices through various postpaid and prepaid plans.
• Fixed Wireless Home Internet: Delivering high-speed internet access to homes and small businesses using its 5G cellular network as an alternative to traditional broadband.
• Business and Government Solutions: Offering specialized mobile connectivity, IoT services, device management, and networking solutions tailored for enterprise and public sector clients.
• Mobile Devices and Accessories Sales: Retailing a wide selection of smartphones, tablets, smartwatches, and related accessories from various manufacturers.

T-Mobile US (TMUS) primarily sells its services to individual consumers and businesses.

Here are the three major categories of customers that T-Mobile US serves:

• Individual Consumers (Postpaid and Prepaid): This is T-Mobile's largest customer segment, encompassing millions of individuals and families who subscribe to their wireless voice, text, and data plans. This includes customers on T-Mobile branded plans (like Go5G, Essentials) as well as those under their prepaid brands such as Metro by T-Mobile.
• Businesses (Small, Medium, and Large Enterprises): T-Mobile serves a wide range of businesses, from small businesses to large enterprises. They provide wireless communication services, data solutions, IoT connectivity, and other business-specific telecommunication products and services to help companies operate and connect their workforce and devices.
• Wholesale / Mobile Virtual Network Operators (MVNOs): T-Mobile acts as a network provider for various Mobile Virtual Network Operators (MVNOs). These companies lease network capacity from T-Mobile and then resell wireless services under their own brands to their end customers. While not the direct end-users of T-Mobile's brand, these MVNOs are significant customers for T-Mobile's network infrastructure and services. Examples of such customers (historically or currently) include Mint Mobile (which T-Mobile acquired), Ultra Mobile, and Google Fi.

• Ericsson (ERIC)
• Nokia (NOK)
• American Tower (AMT)
• Crown Castle International (CCI)
• Apple (AAPL)
• Samsung

Mike Sievert, Vice Chairman

Mike Sievert transitioned to Vice Chairman of T-Mobile US and its board of directors starting November 1, 2025. He previously served as Chief Executive Officer, President, and Board Director, a role he assumed in April 2020. He joined T-Mobile in 2012 and was instrumental in shaping the company's "Un-carrier" strategy during his time as Chief Operating Officer and Chief Marketing Officer. Prior to T-Mobile, Sievert held leadership positions at Microsoft (Corporate Vice President of Global Windows Group), AT&T Wireless (EVP and CMO), E-Trade (EVP and Chief Global Marketing and Sales Officer), IBM, and Procter & Gamble. He co-founded Switchbox Labs, a startup acquired by Lenovo in 2009. He also served as CEO of Discovery Bay Games and Chief Commercial Officer at Clearwire Corporation. Sievert currently serves on the Starbucks board of directors.

Srini Gopalan, Chief Executive Officer

Srini Gopalan is expected to replace Mike Sievert as Chief Executive Officer of T-Mobile US. Prior to this role, he served as Chief Operating Officer.

Peter Osvaldik, Executive Vice President & Chief Financial Officer

Peter Osvaldik has served as Executive Vice President and Chief Financial Officer of T-Mobile since July 2020. He oversees finance, supply chain, and related operations. Osvaldik joined T-Mobile in 2016 as Vice President, External Reporting and Technical Accounting, and later became Senior Vice President, Finance and Chief Accounting Officer. Before joining T-Mobile, he held Chief Accounting Officer, Corporate Controller, and Controller roles at Outerwall Inc. (formerly Coinstar). Earlier in his career, he worked at PricewaterhouseCoopers.

Jon Freier, President, Consumer Group

Jon Freier is the President of T-Mobile's Consumer Group, responsible for consumer marketing, digital excellence, retail sales and distribution, customer care, and strategic planning. His career with T-Mobile began in 1994 with Western Wireless, a predecessor company, where he started on the frontlines. He has played a significant role in T-Mobile's growth and the integration of acquired companies.

Callie Field, President, Business Group (Strategic Advisor until March 31, 2026)

Callie Field is the President of T-Mobile's Business Group. She will remain with the company as a strategic advisor until March 31, 2026, after which she will depart her current role. She joined T-Mobile in 2003 as an Account Representative and has held various leadership positions in Sales, Operations, and Business Development. Field is recognized for leading the reinvention of T-Mobile's customer care model with "Team of Experts." She also serves on the board of directors for Dialpad.

T-Mobile US (TMUS) operates in several significant addressable markets within the United States, primarily focused on wireless communication services and, increasingly, fixed wireless internet.

Here are the estimated market sizes for their main products and services in the U.S. region:

• Wireless Telecommunications Services (Overall U.S. Market): The U.S. wireless telecommunications carriers market was valued at $321.0 billion in 2024 and is projected to reach $340.3 billion in 2025. Another estimate indicates the market value to be USD 450.21 billion in 2025, with a projection to grow to USD 960.79 billion by 2035, exhibiting a Compound Annual Growth Rate (CAGR) of 7.9% from 2025 to 2035.
• Prepaid Wireless Services (U.S. Market): The United States prepaid wireless service market size is estimated at USD 164.33 billion in 2025. Other reports indicate the U.S. prepaid wireless service market was valued at USD 644.73 billion in 2025 and USD 1599.10 billion in 2025. This market is driven by demand for flexible, no-contract mobile plans.
• 5G Home Internet (U.S. Market): The U.S. 5G Fixed Wireless Access (FWA) market was valued at USD 12.05 billion in 2024 and is projected to reach USD 135.36 billion by 2032, growing at a CAGR of 35.23% from 2026 to 2032. Another projection estimates growth from USD 8.65 billion in 2023 to USD 99.60 billion by 2032, with a CAGR of 26.87% from 2024 to 2032. North America, including the U.S., had 176 million 5G internet connections by the third quarter of 2023.
• Enterprise Telecommunication Services (U.S. Market): The U.S. enterprise telecom services market was valued at USD 187.01 billion in 2022 and is expected to reach USD 196.59 billion in 2023. This market is anticipated to grow at a CAGR of 6.9% from 2023 to 2030, reaching USD 313.95 billion by 2030. Globally, the telecom enterprise services market is estimated to be worth USD 212.9 billion in 2024 and is projected to reach USD 355.1 billion by 2034.

T-Mobile US (TMUS) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Continued Growth in Postpaid Customer Base: T-Mobile anticipates sustaining its industry-leading growth in postpaid customer additions, including both phone and overall postpaid accounts. The company raised its 2024 guidance, projecting total postpaid customer net additions between 5.6 million and 5.8 million, with postpaid phone customer net additions expected to be approximately 3 million for the full year. This consistent expansion of its core wireless subscriber base is a primary driver of service revenue growth.

2. Aggressive Expansion of 5G Home Internet (Fixed Wireless Access - FWA): T-Mobile is heavily investing in and expanding its 5G Home Internet service, aiming to reach 12 million customers by 2028. This is a significant increase from its previous target of 7-8 million by 2025. The company has already surpassed 6 million broadband customers and views this service as a disruptive force, particularly in extending high-speed internet to underserved rural and suburban markets.

3. Increasing Average Revenue Per Account (ARPA) and Premium Plan Adoption: T-Mobile expects its full-year postpaid ARPA to increase by approximately 3% year-over-year in 2024, driven by efforts to deepen customer relationships and encourage adoption of higher-value plans. While general price increases on legacy plans for some customers have occurred, the broader strategy involves attracting and retaining customers with premium offerings that enhance ARPA, contributing to industry-leading service revenue growth.

4. Expansion into Business/Enterprise Segments and New 5G-Enabled Services: T-Mobile is targeting growth beyond consumer wireless, focusing on opportunities within the business and enterprise sectors. This includes leveraging its advanced 5G network for services like network slicing, private networks, and Internet of Things (IoT) applications. Analysts suggest substantial opportunities, such as a "$100 billion opportunity" in enterprise network slicing. Strategic acquisitions, like Blis and Vista Media, also aim to capture a larger share of the digital out-of-home advertising market.

5. Strategic Acquisitions and Partnerships: T-Mobile has been active in strategic acquisitions, such as assets from UScellular and companies like Mint Mobile, Lumos Networks, and Metronet. These acquisitions are expected to bolster subscriber numbers and market share, particularly in the broadband sector. Additionally, partnerships, such as with Delta Air Lines, are intended to enhance service offerings and customer experiences, further contributing to revenue growth.

Share Repurchases

• T-Mobile authorized a shareholder return program of up to $19 billion for the period from Q4 2023 through the end of 2024.
• In 2023, T-Mobile executed approximately $13.074 billion in share buybacks, followed by approximately $11.228 billion in 2024.
• A new shareholder return program of up to $14 billion was authorized to run through December 31, 2025, as part of a broader plan to return up to $50 billion to shareholders by the end of 2027.

Share Issuance

• In June 2020, T-Mobile US priced a registered public offering of 143.39 million common shares at $103.00 per share.
• This public offering was related to SoftBank's monetization of its shareholding, and T-Mobile agreed to repurchase an equal number of shares from a SoftBank subsidiary, resulting in no change to the number of outstanding shares or T-Mobile's capitalization from this transaction.
• T-Mobile USA issued $3.5 billion in senior notes through a public offering in March 2025, with proceeds intended for general corporate purposes including potential share buybacks and refinancing existing debt.

Outbound Investments

• T-Mobile completed its $26 billion merger with Sprint in 2020, which significantly enhanced its mid-band spectrum holdings and advanced its 5G network deployment.
• In August 2025, T-Mobile acquired the wireless operations of UScellular for approximately $4.4 billion, which included 4 million customers, roughly 30% of UScellular's spectrum assets, and rights to more than 2,000 towers, further expanding its 5G dominance and rural coverage.
• T-Mobile made strategic acquisitions to diversify revenue, including Mint Mobile and Ultra Mobile in 2024, Vistar Media for approximately $600 million in early 2025 to enter digital out-of-home advertising, and Blis for $175 million in March 2025 to enhance advertising solutions. The company also engaged in joint ventures with KKR and EQT for fiber internet, acquiring Lumos Networks and planning to close the Metronet acquisition.

Capital Expenditures

• T-Mobile's capital expenditures averaged approximately $10.064 billion from fiscal years 2020 to 2024, peaking at $13.97 billion in 2022.
• Between 2020 and 2022, T-Mobile spent over $37 billion on capital expenditures primarily to integrate the Sprint network and expand its 5G footprint.
• For 2025, T-Mobile raised its capital expenditure forecast to approximately $10 billion, focusing on continued 5G network deployments, IT platforms for efficiency and customer experience, and fiber optic network expansion through joint ventures.