|
|
|
|
|
|
|
|
Vodafone shares plummet
The credit crunch is taking its toll on the mobile industry - Vodafone this week released trading figures which caused its shares to plummet.
Outgoing boss Arun Sarin admitted that the company faced a more "challenging operating environment" - it faces an even more challenging one now that shares have fallen 15.65 pence to 133.6p. Consumers can draw much comfort from Vodafone's plans to recover though - it is confident that cost cutting will mean that its profits for the current financial year are still set to meet its original projections. Indeed, in the three months leading up to the end of June, Vodafone's revenue added up to £9.8 billion - 19.1 per cent more than a year earlier and matching market forecasts. The UK has played its (smallish) part in contributing to this figure - service revenue here increased by 2.1 per cent, thanks mainly to mobile broadband and messaging. As with other neighbouring countries the saturated UK voice revenue market declined because of fierce competition and firm evidence of an economic slowdown. It was elsewhere - in Eastern Europe, the Middle East, Africa, Asia, and the Pacific - that the main drivers of Vodafone growth were to be found. Romania has more than nine million customers, greatly helping to fuel the growth. Vodafone clearly sees expansion rather than contraction as the key to continued success. Earlier this month it attempted to purchase another presence in Africa by buying a controlling stake in Ghana Telecom for £452 million. The deal could see the British firm acquire a 70 per cent share of the currently state-owned firm, although the transaction is blocked for the time being by the National Democratic Congress, the main opposition party in Ghana. Arun Sarin will hope that such initiatives will lead analysts to think kindly of him when they consider his legacy. After five years at the helm of the company he will be succeeded by his deputy Vittorio Colao at the end of the month. He overcame a shareholder revolt in 2006 and managed to appease critics of his performance by the way he handled the crisis. Ending on a sour note would appear to be a poor reward for his hard work over the years. Vodafone News posted on 23/07/2008 07:30:10 Have your say!Asda joins the mobile phone price war
Asda has claimed that it is the cheapest pay-as-you-go operator in Britain, after slashing prices.
Vodafone hikes up call charges
Vodafone has increased its call charges for its pay-as-you-go and contract customers.
Vodafone to open 50 new shops
Vodafone is to add 50 new shops to its 350-strong retail empire.
|
| Copyright © Mobile Marketing News 2007 |
