Because of subsidies and other inducements to attract customers, Verizon's first year with the iPhone may cost it a bundle, amounting to over $400 per new customer with an estimated 13 million potential iPhone sales, totalling $5.2 billion dollars, speculates UBS analyst John Hodulik in a new BusinessWeek article. Other analysts, such as Barclays' James Ratcliffe, disagree on the size of subsidies and potential sales but still think Verizon could lose at least $3 billion on the first year of iPhone availability, though of course it will more than make up for any loss
