3 reduces losses to £152m

3, one of the major phone operators in the UK, has announced encouraging financial results that, says reports, indicate that the UK outfit is finding its feet in the mobile market. The company announced losses of £152m which sounds a lot but not when you compare the previous years' losses of £791 million and £1.4 billion five years ago whilst revenues increased by 18% to £1.5 billion.


3, which has a total of 4.9 million customers, has an 8% market share in the mobile operator market in the UK. Reports say that the turn-around has occurred since the company has moved away from its unsuccessful video calling marketing strategy and towards cheaper tariffs. It helps too, however, that the mobile market, in the UK, is performing well relative to the world market.


Talking to the Times website, James Barford, at Enders Analysis, said, "The UK appears to be performing relatively well, growing at 11 per cent in a [world] market that is now growing at only 2-3 per cent."


Click to read the Times story

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