An increasing number of people are seemingly looking to sell their mobile phones to get their hands on new smartphones as AT&T has reported a record number of smartphone activations.

The company showed consolidated revenue of $32.5 billion (£20.6 billion), up 3.4 per cent when compared to the same period of time last year. The carrier sold 9.4 million smartphones during the quarter, which is 50 per cent more than its previous record.

AT&T chairman and chief executive officer Randall Stephenson said in 2012 the firm is in its best ever position to continue to show revenue growth with margin expansion.

"This was a blowout quarter for sales. Our network performance is at a high level on voice quality. Sales continue to be strong and business revenue trends are on a good track," he added.

Despite these results leading mobile retailer Carphone Warehouse suggested that sales in pre-pay handsets had dropped by as much as 40 per cent.

Posted by Peter Robinson

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