Phone companies are in good shape with so many people needing cell phones. Many need it for work and basic needs. technology continues to evolve and the market is worth a fortune. Many businesses like Subway [VIDEO] have been making changes to sustain economic growth.

It is evident that an individual can choose from an array of companies for cell phone service and T-Mobile and Sprint have partnered up following a series of discussions on the matter. This is a great business decision for both companies as it could mean a lot for their services and revenue -- not to mention what it could mean for their competitors.

The details

An article from Business Insider written by Joe Ciolli has confirmed that the two companies will merge, bringing their net value up to $146 billion.

Also, John Legere, T-Mobile's CEO, is expected to serve in that role for the merged entity, which will retain the T-Mobile name.

T-Mobile's CEO made the announcement a couple of days ago by tweeting and adding a seven-minute video detailing the merger. But who will be taking over the newly formed company? The article states that "Deutsche Telekom, which owns two-thirds of T-Mobile, would control the newly formed company."

This deal will be very significant as it "would combine the third-and-fourth-largest US wireless carriers." The two brands have a combined "127 million customers" and the deal shows that they want to compete with providers such as AT&T and Verizon.

Both Verizon and AT&T have been the best brands available in the eyes of many, however, that could very well change soon with the partnership between T-Mobile and Sprint.

What it all means

Many may wonder how this merger will fare, with it drawing scrutiny from regulators, and Donald Trump not being happy with AT&T and Time Warner's attempt to come together. The president has also not been happy with Amazon [VIDEO] and how they are doing as a business -- supposedly not paying their taxes and putting many other companies out of business. This is certainly evident, as brick and mortar stores have not been doing so well in recent years.

It is a bit ironic that the two brands partnered up because there were rumors long ago that AT&T and Sprint wanted to partner up, but it never came to fruition.

The business decision could prove to be good in the long run as AT&T and Verizon will improve their services and maybe even lower their pricing to compete with T-Mobile and Sprint's partnership. AT&T and Verizon may even merge in the future in order to compete.