Israel’s Partner Communications, which offers services under the Orange banner, has released its financial results for the three months ended 30 June 2012, revealing a 24% slump in revenues, with the decline driven by price erosion in the cellular sector and a ‘significant reduction’ in the number of handsets sold. For the operator’s fiscal second quarter, it reported total turnover of ILS1.428 billion (USD364 million), down from ILS1.887 million a year earlier, with service revenues falling 11% year-on-year to ILS1.213 billion. With cellular service revenue standing at ILS949 million (down 12% y-o-y), Partner noted that the decline primarily reflected price erosion for both voice and data services in the wake of new operators entering the sector.
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OVETEL Partner posts revenue slump amid price erosion and lower handset sales
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