Vodafone Loses Billions
It seems that the mobile phone service provider Vodafone lost billions of dollars this year. Now the question is just how many billions exactly? The Register is reporting 3.3bn UK pounds while the International Herald Tribune says its more like 5.1bn.
Why the troubles? The biggest factor seems to be that consumers spent just €46.90 a year on their subscription, a drop from €53.10 last year. And even though Vodafone added 29,000 new customers this year, the fact that people are spending less each month really hurt the ol' balance sheet.
One has to think that similar announcements will be on their way from other wireless carriers.