As if getting exclusive rights to just about every new handset of not wasn’t enough, it seems that the company is also turning record profits. AT&T announced today that they pulled in a net income of $3.1 billion in Q3 this year, crushing the competition in their path. This amounts to a 42 percent increase over the same time frame last year. It’s a sizable change in which last year’s profits held firm at $2.2 billion. While much much of this progress is due to the company’s acquisition of Bell South, they also got more than a little help from a tiny and not-hyped product known as the iPhone.

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