T-Mobile has achieved the top position in carrier brand image for the first time in 13 years of TD Cowen surveys. The securities analysts conducted the survey on December 31, 2025, with 1,033 respondents asked to rank carriers on brand and image quality.
According to the survey results (via Fierce Network), T-Mobile received an average ranking of 1.96, compared to Verizon at 2.01 and AT&T at 2.03. The rankings used a scale where 1 represented the best and 3 represented the worst. TD Cowen analysts noted that T-Mobile’s network coverage, pricing, and customer experience factors contributed to the shift in perception.
The survey also measured how consumers perceive carrier pricing. When respondents ranked carriers on overall pricing (with 1 being highest and 3 being lowest) AT&T scored 1.86 (perceived as highest priced), Verizon scored 2.04, and T-Mobile scored 2.10 (perceived as lowest priced).
The analysts noted that this perception aligns with T-Mobile’s historical positioning as the lowest-priced carrier, though they expressed surprise that AT&T was rated as the highest priced, given that actual rate cards typically show Verizon as the highest by approximately $5.
When asked why they chose their current provider, T-Mobile customers identified better price as their top reason at 35%. Verizon customers cited network quality as their primary factor at approximately 51%, while AT&T customers provided mixed reasons for their selection.
The TD Cowen analysts reported that AT&T’s wireline and wireless bundling strategy showed limited impact so far, with only 9.9% of AT&T customers selecting the carrier for the bundled discount. The analysts noted this percentage has remained consistent over the past three surveys, though they acknowledged the convergence strategy is still in early stages.
Verizon continues to work on closing the gap with T-Mobile through its rural C-band deployment and promotional activities aimed at winning back customers. However, the analysts stated that momentum currently favors T-Mobile following more than six years of gains against Verizon based on its 5G network and pricing strategy.
The survey results come as all three major carriers face ongoing legal disputes regarding pricing and advertising claims. A federal judge in New York recently granted Verizon a preliminary injunction blocking T-Mobile from running advertisements promising more than $1,000 in annual savings, determining that T-Mobile’s campaign likely constitutes false advertising. AT&T has made similar allegations of false advertising against T-Mobile, claiming the carrier makes apples-to-oranges comparisons in its promotional materials.
Source: Fierce Network