The second largest mobile operator in the world, Vodafone, increased its whole year overall earnings forecast last Tuesday. This is because of increasing demand in the major European markets, added with increased investing on the company’s push for new products that significantly helped in reducing revenue drops.
The mobile operator recently faced increased competition coming from various groups and even providers offering fixed-line services. Vodafone stated that they are planning to launch new services, particularly TV and broadband services in the British market in order to compete confidently with the company’s current rivals who in fact offer more ranges of products.
Overall improvement in recent trading, sparked high hopes of growth to return in the company’s main measurement for revenue by next year. The company recently sent their overall shares to jump 6% to the company’s 6 month high after 2 years of experiencing statistic falls.
Vittorio Colao, the company’s Chief Executive, stated that the evidence of the stabilization of the company is growing in many European markets. He added that Vodafone’s 2 year, 19B pound investment program is proceeding as planned and more clients are starting to feel its benefits.
Vodafone embarked on this program with the aims of building or buying broadband networks (fixed-line) across Europe that are super-fast. This is primarily to enable the company to compete confidently with rivals that offer mobile services alongside broadband, television, or even fixed-line bundle deals.
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