Vodafone on Friday reported 3.5% decline in its key organic service revenue citing increased competitive intensity in Northern and Central Europe- Germany and UK and conditions in Southern Europe-Italy, Spain-as difficult.
 
Vodafone continues continued strong service revenue growth in emerging markets Like India and Turkey for the company organic service revenue with India revenue rising 13.8%.

Subscribers increased by 2.7 million during the quarter. Data usage increased by 29% compared to Q4 as a result of an increased number of data customers and increased usage per customer, particularly amongst 3G customers.

Vodafone said that acquisition of Kabel Deutschland in Germany is expected to close in calendar Q4; vertical fibre access agreement in Spain; wholesale fibre access agreement in Italy

It said that 4G services were launched in Spain, Australia and Czech Republic; 4G now available in ten markets with group data usage +60%.
  
Net debt including joint ventures1 £24.9 billion after £2.1 billion VZW dividend and completion of £1.5 billion share buyback. Net debt, excluding joint ventures1, was £23.0 billion.
 
“We have made a good start to the year in our areas of strategic focus: growth in emerging markets has accelerated, we now have over 5 million customers benefiting from Vodafone Red, and 4G is live in ten markets. In addition, the proposed acquisition of Kabel Deutschland will create an excellent platform for our unified communications strategy in our most important market. Although regulation, competitive pressures and weak economies, particularly in Southern Europe, continue to restrict revenue growth, we continue to lay strong foundations for the longer term.”

For best mobile phone deals: http://shopping.telecomtiger.com/

For latest updates on facebook: http://www.facebook.com/pages/TelecomTiger/429104257149437