AT&T didn't see any future in mobile phones way back in the beginning of cell technology. They were a late entry
In 1980, McKinsey & Company was commissioned by AT&T (whose Bell Labs had invented cellular telephony) to forecast cell phone penetration in the U.S. by 2000. The consultant’s prediction, 900,000 subscribers, was less than 1% of the actual figure, 109 Million. Based on this legendary mistake, AT&T decided there was not much future to these toys. A decade later ... AT&T had to acquire McCaw Cellular for $12.6 Billion.
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Gary
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