Vodafone Profit & Financial Results: Smartphone Success
Vodafone is having a solid year with financial results and annual profits for 2010 / 2011; this is all thanks to smartphones being favoured by its customers.
Vodafone has managed to hold the market share according to Sky News across all the major markets and thanks to switching to higher tariff smartphones profits have soared to Â£9.5bn before tax year ending March 2011.
The mobile network company revenues of Â£45.9bn is very good considering the smartphone market with other major players, Vodacom who operate in South Africa, the Democratic Republic of Congo and Tanzania, posted growth of 5.8 percent and India reported growth of 16.2 percent, mobile internet bundles and smartphones gave the company an increase of service revenue by 4.7 percent.
This is great news for Vodafone and of course its customers, as long as there is a profit customers and of course shareholders will benefit, please do let us know what smartphone you purchased via Vodafone, as this will help us know what is the most popular.
Vittorio Colao, chief executive of Vodafone said: “Continuing network investment is an important differentiator for Vodafone. “Improving the customer experience and giving us leadership in smartphone penetration and in customer take up of data plans.”
Do you think Vodafone can keep this trend in profits? The smartphone industry is big business and other mobile networks are very strong indeed this year also. The competition thickens as they say.