Rise in smartphones means rise in profits for Vodafone
Vodafone up 10% due to smartphone data use
The increase in popularity of smartphones has been revealed as a major contributor to Vodafone’s rise in annual profits. The telecommunications company announced that its revenue has risen 3.2 per cent to £45.9bn and profits for the last financial year were £9.5bn. These figures are higher than had been forecast as the profit increased by nearly ten per cent from £8.7bn the previous year.
Emerging market performance had also been a cause for their success. However, revenue from data services sales had risen by 26 per cent, putting the company in a strong position for the new financial year.
Everyone wants a smartphone
Mobile phone users are seeing the attractiveness of having a smartphone. Users can access the internet, social networks and emails while on the move. These selling points mean that more people are using data services and opting for phone packages with high download limits. Furthermore, the emergence of better technology means that smartphones are now available on a range of budgets – the iPhone is no longer the only opinion.
Manufacturers are also seeing benefits from the increased popularity of smartphones, together with data service providers. Vodafone is hoping to expand into the market further, launching its own smartphone this summer.