US telecom carrier, Verizon Wireless has sad that it has added about 734,000 subscribers in the first quarter to its network in the country.

The biggest largest cellphone service provider said that the figure is 16 percent lower than the same period previous year. Verizon recorded a profit of $1.7 billion for the quarter mainly due to revenues from bills that consumers pay for watching videos, surfing the internet or listen to the music through internet on their smartphones or tablets on the company's network.

Lowell McAdam, Verizon chief executive, said in a statement that, "We built momentum coming out of 2011, and our results show that we continue to execute in the key growth areas of our business."

Carriers aggressive attract customers to their networks as new subscribers increase revenues. However, experts say that most people who would want to use a mobile phone are already using a mobile phone in the country and this leaves a very little scope for growth.

Experts say that the company is likely to find another way to maintain growth in revenues as there is very little scope for expanding user base in the country.