Cellcom suffers amid increased competition as it posts 43.5% drop in net profit in 1Q12

Amid increasing competition and lower prices for consumers in the wireless sector, Israel’s largest cellco by subscribers, Cellcom, has revealed a 43.5% year-on-year on drop in net profit. For the three months ended 31 March 2012 the operator posted a net income of ILS173 million (USD47 million), down from ILS306 million in the same period a year earlier, with Cellcom attributing the drop in the main to lower service revenues

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OVETEL Cellcom suffers amid increased competition as it posts 43.5% drop in net profit in 1Q12