Verizon's wireless growth is now being driven by tablets

Verizon may not be adding as many smartphones to its network as it used to, but at least it has new tablet connections thriving on its LTE network.

The company added 1.15 million contracted LTE tablet connections during the second quarter, compared to just 304,000 new smartphone connections, according to its earnings report released today.

Those figures are especially surprising since Verizon also launched Samsung’s Galaxy S5 and HTC’s new One on its network this month, flagship Android phones that could attract new customers. Despite the lack of smartphone growth, Verizon still managed to grow its wireless revenue to $21.5 billion in Q2, a 7.5-percent jump from last year.

It’s getting easier for wireless customers to add tablets to their cellular plans these days — LTE-equipped tablets are cheaper than they used to be, and Verizon is now offering monthly plans that make it easier to add new devices.

A new tablet connection for an existing customer, which typically costs around $10 a month, definitely isn’t worth as much to Verizon as an entirely new wireless customer. But as it gets harder to entice new smartphone consumers, don’t be surprised if carriers start pushing new ways to get other devices from customers online.

Overall, Verizon reported $31.5 billion in revenues in Q2, a 5.7 percent increase from last year and its highest quarterly revenue figure in the past six quarters.