<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE BALANCE
SHEET AND INCOME STATEMENT OF OMNIPOINT CORPORATION AS OF AND FOR THE TWELVE
MONTHS ENDED DECEMBER 31, 1997 AND FOR NINE MONTHS ENDED SEPTEMBER 30, 1997 AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
<S>                             <C>                     <C>
<PERIOD-TYPE>                   YEAR                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997             DEC-31-1997
<PERIOD-START>                             JAN-01-1997             JAN-01-1997
<PERIOD-END>                               DEC-31-1997             SEP-30-1997
<CASH>                                          63,581                  84,913
<SECURITIES>                                    15,009                  22,052
<RECEIVABLES>                                   25,825                  13,111
<ALLOWANCES>                                   (5,746)                 (1,938)
<INVENTORY>                                     39,962                  19,607
<CURRENT-ASSETS>                               198,415                 195,511
<PP&E>                                         631,876                 522,029
<DEPRECIATION>                                (46,886)                (35,300)
<TOTAL-ASSETS>                               1,779,589               1,652,579
<CURRENT-LIABILITIES>                          290,580                 249,089
<BONDS>                                        478,086                 477,915
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                           523                     516
<OTHER-SE>                                   (182,429)                (65,018)
<TOTAL-LIABILITY-AND-EQUITY>                 1,779,589               1,652,570
<SALES>                                         43,450                  23,778
<TOTAL-REVENUES>                                51,950                  28,278
<CGS>                                          108,335                       0
<TOTAL-COSTS>                                  108,335                       0
<OTHER-EXPENSES>                               181,951                 181,318
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                              89,061                  59,549
<INCOME-PRETAX>                              (314,419)               (201,830)
<INCOME-TAX>                                         0                       0
<INCOME-CONTINUING>                          (314,419)               (201,830)
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                (6,591)                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                 (321,010)               (201,830)
<EPS-PRIMARY>                                   (6.23)                  (3.92)
<EPS-DILUTED>                                   (6.23)                  (3.92)
        

</TABLE>