The Federal Communications Commission just released its latest massive report on the state of the U.S. wireless industry. (All 308 pages available here.)
The basic story: Smartphone penetration is getting huge, teens are texting up a storm, voice usage is going down, and data revenue — while growing — isn’t making up for the decline in voice revenue.
As FBR Capital Markets analysts David Dixon and Dutch Fox note today, it’s the first time the FCC did NOT conclude that the wireless industry is “competitive,” despite no material changes in the industry over the past year.
The analysts’ conclusion: The FCC may put restrictions on Verizon and AT&T during the next spectrum auction to slow their dominance, giving Sprint Nextel and T-Mobile a boost.