Verizon’s activations of older iPhones better than expected

Click to enlarge. Source: Company reports.

FORTUNE -- Verizon (vz) announced Thursday that it activated 6.8 million smartphones last quarter -- 3.1 million iPhones and 3.4 million handsets running Google's (goog) Android. That compares with 2.7 million iPhones and 2.9 million Androids in Verizon's second quarter.

The company also said that 21% of its iPhone activations were on its LTE network, which suggests that roughly 650,000 of those activations were iPhone 5s and about 2.45 million were older models.

In a note to clients, Piper Jaffray's Gene Munster called the results a "slight positive" for Apple (aapl).

Based on Verizon's report, it appears that non-iPhone 5 sales were down 9% q/q while we are currently modeling Apple to see a 35% q/q decline in non-iPhone 5 sales in September. The reason we were looking for a 35% q/q decline is due to the impact of customers waiting for the iPhone 5. The bottom line is that we are incrementally more comfortable with our 25 million September iPhone estimate.

AT&T (t) is scheduled to release its quarterly results next Wednesday and Sprint (s) the following morning. We'll get Apple's fiscal Q4 results Thursday evening after the markets close.

See also: How many iPhones did Apple sell last quarter? 

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions