O2 reports surge in broadband subscribers
O2 reports surge in broadband subscribers
(Mon, 2nd March 2009)
O2 recorded a significant increase in the number of subscribers to its broadband services in the final three months of 2008, figures have shown.
The provider announced its fourth quarter results for last year, with the take-up of broadband users playing a major part in its overall success.
Its customer base across fixed and mobile connections rose to more than 340,000 - up from 267,000 in the third quarter.
This helped O2 to overcome the difficult economic conditions and record growth of over ten per cent in revenues at a time when many providers are struggling to add to their customer base.
Matthew Key, chairman and chief executive of Telfonica Europe - which owns O2 - attributed the success to the company's low-price and high-quality service.
However, he insisted that there is "no room for complacency" over the coming 12 months, with the financial crisis likely to bring a number of new challenges to those in the industry.
"It is critical that we continue to deliver propositions and services that add real value to our 46 million customers across Europe in these market conditions," Mr Key added.
Fellow internet service provider Virgin Media also released its fourth quarter results last week, which revealed that the company has now amassed a record 3.68 million broadband customers.
Having launched its new 50Mbps package at the end of last year, the firm also said that more than 1.2 million users are now subscribed to next-generation services, which offer speeds in excess of 10Mbps.
Despite this, Virgin Media recorded an overall operating loss of £50 million for the final three months of 2008.
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