T-Mobile US offers free shares to its customers

Jun 07, 2016, 7:38 AM EDT
(Source: Axel Schwenk/flickr)
(Source: Axel Schwenk/flickr)

In an aggressive attempt to take on its competitors, T-Mobile US, the third biggest network in America is offering a free share, worth about $43.07 to each of its 10 million customers. The company is known for its innovative promotions in an oversaturated U.S. mobile market, which is witnessing a cut-throat competition between providers.

Appreciating the company’s move, Chief Executive John Legere said “this has never been done before” by a public company, writes the BBC. He added that the giveaway is an opportunity for the company to thank its loyal customers.

The company, which added a whopping 2.2 million customers in the first quarter of the year, also plans to reward it clients with up to 100 shares for referring new subscribers.   

Elaborating on the giveaway plan, Chief Operating Officer Mike Sievert said that the company is expected to benefit if its customers become investors and spread the word about its products and services, notes USA Today.

Last week, rival AT&T rolled out a slew of offers to woo customers, including a “buy one get one free movie ticket” deal, and pre-sale access to concert tickets through Live Nation.