By Drew FitzGerald

Verizon's chief executive said his company won't absorb the cost of tariffs on smartphones. Shoppers will have to pay for it.

"If the tariff is going to be as high as they say on the handset, we are not planning to cover that in our work. That's just not going to be possible," Chief Executive Hans Vestberg told analysts. "We will not cover any enormous increase on tariffs on handsets. That's ultimately going to hit the consumer in the market."

The cellphone carrier warned that its full-year financial guidance, which it affirmed Tuesday, doesn't reflect effects of an "evolving tariff environment" that is hard to predict.

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April 22, 2025 11:02 ET (15:02 GMT)

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