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Wednesday, March 22, 2023

Vodafone adjusts growth strategy

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Vodafone has unveiled an updated growth strategy as it bids to capitalise on increasing consumer demand for smartphones.

The mobile phone giant has pledged further investment in its European infrastructure to meet increased data demand as customers watch more video content on mobile phones, while it is also planning a new pricing strategy for mobile data which will see the adoption of tiered charging and differentiated service levels.

Vodafone announced its strategy after financial results revealed the company increased half-year operating profits by 3% to £6.1 billion.

Subsequently, it raised its guidance for full-year profits to between £11.8 billion and £12.2 billion after higher than expected revenues growth in each of its operating regions.

According to the report, UK revenues were up 5.2% in the second quarter, leading to growth of 2.9% in the first half of the year, as the increased demand for smartphone models such as Apple’s iPhone and mobile internet bundles more than offset “intense” competition.

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