Vodafone Calls On Smartphone Profits : New gizmos, Gadgets gazette Blog

Tuesday, May 17, 2011

Vodafone Calls On Smartphone Profits

The world's biggest mobile phone company, Vodafone, posted striking annual profits mainly due to its customers upgrading to smartphones.

Vodafone made almost £9.5bn before tax in the ye

ar to the end of March, a rise of 9.5% on last year.

The British mobile phone company posted solid financial results for 2010/11, with revenues of £45.9bn.

It gained or held market share in most of its major markets and said it was leading the switch to higher tariff smartphones.

Strong performance from key emerging markets also helped drive up numbers.

India reported growth of 16.2% and Vodacom, which operates in South Africa, the Democratic Republic of Congo and Tanzania, posted growth of 5.8%.

In the UK, the growth of smartphones and mobile internet bundles helped Vodafone increase service revenue by 4.7%.

Vodafone chief executive Vittorio Colao 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."

Mr Colao added: "We enter the new financial year well positioned to deliver further value to our shareholders."

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