Vodafone have announced that growing demand for smartphones has led to a double in the operator’s pre-tax profits. An increase in smartphone sales has been put down in part to the company’s recent tie-in (since Christmas) with the iPhone.
Pre-tax profits for the full-year had risen from £4.2billion last year to a staggering £8.7billion.
The chief executive of Vodafone, Vittorio Colao has revealed that the world’s largest mobile network is now bringing in over a third of its total revenue from mobile data services and its broadband operations. He explained:
“Vodafone’s financial results exceeded our upgraded guidance on all measures. We are creating a stronger Vodafone, which is positioned to return to revenue growth during the 2011 financial year, as economic recovery should benefit our key markets.”
The group found particular success in emerging markets, despite an intense price war in India, where it was hit with a £2.3billion impairment charge.
In other mobile related news it was reported that smartphone sales are impacting heavily on the volume of traditional handsets being sold, with Apple and Research in Motion benefitting the most from this shift in focus towards these innovative devices.
US researchers iSuppli Corp have published data revealing that RIM have profited because of the Blackberry phones and their excellent business applications, while Apple’s iPhone continues to go from strength to strength.