How has T-Mobile US's equipment revenue trended since 2022?

T-Mobile US's equipment revenue has declined since 2022. This trend is evident in the company's financial performance, which has been impacted by macroeconomic pressures and intense competition within the U.S. wireless market. Despite a successful expansion of its 5G network, the company's equipment revenues have been affected, with a projected decrease in the fourth quarter of 2023.

1. **Impact of Macroeconomic Pressures and Competition**: T-Mobile's equipment revenues have been influenced by the challenging market conditions, leading to a decline in revenue projections for the fourth quarter of 2023. This is due to the company's operating in a highly competitive environment where intense competition for market share can lead to pricing pressures that affect equipment sales and revenue.
2. **Strategic Initiatives and 5G Network Expansion**: On the positive side, T-Mobile's investment in expanding its 5G network has been significant, with the company aiming to connect a large number of people with its Ultra Capacity 5G network. This strategic move could potentially boost equipment revenue in the future as more customers upgrade to 5G devices.

In conclusion, while T-Mobile's strategic initiatives and 5G network expansion provide a positive outlook for future equipment revenue growth, the current trend is downward due to the immediate impact of macroeconomic pressures and competition.