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  5. Vodafone hit by mobile phone market slump

Vodafone hit by mobile phone market slump

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Vodafone hit by mobile phone market slump

Vodafone UK revenues slipped during its first trading quarter in the face of the continuing slowdown in demand for new mobile phones

The latest reports from the mobile carrier show that revenue for the period was down by 4.7 per cent. This compares to a 3.5 per cent fall during the preceding period.

It is thought that the decline is attributable to the fact that consumers are hanging on to their existing mobiles for longer and are being more cautious about using their call and text allowances.

However, a statement from Vodafone also cited the increasingly competitive conditions in the UK telecommunications market as a key factor.

A statement issued by the company read: “The 4.7 per cent organic decline in service revenue was primarily driven by continued intense competition and economic pressures.

“The latter resulted in reduced discretionary spend which led to customers optimising bundle usage, higher prepaid inactivity and lower roaming revenue.”

Handsets currently available on Vodafone include the Android powered HTC Magic, for which it holds exclusive UK rights, and the Nokia N97.

Category: News

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