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Telecoms - Europe - April 2009

Mintel’s report series “Telecommunications Retailing in Europe” in 2009 covers 19 telecommunications retail markets in Europe.

There are separate reports for the UK, Germany, France, Spain, and Italy as well as a pan-European report combining all countries along with an overview of the sector.

Mintel European Retail Intelligence provides independent, expert coverage of the major retail sectors throughout Europe. Each title in this series analyses retailing trends in up to 19 European markets, including the Scandinavian nations and Eastern European countries such as the Czech Republic and Poland as well as the major Western European markets.

The coverage provided by each report is as accurate, relevant and up-to-date as possible, combining in-house sector expertise with retailer performance data, taken directly from industry and trade sources.

With titles ranging from 'DIY Retailing in Europe' through to 'Food Retailing in Europe', each market examination includes studies of:

  • background economic and demographic data
  • market sizes
  • regional retailing trends and issues
  • market drivers
  • consumer expenditure
  • consumer trends
  • leading pan-European retailers
  • domestic retailers
  • market forecasts

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Table of contents

  1. Market in Brief

    • Market size and performance
      • Solid market growth backed by wide scale demand
        • Leading retailers
          • The future
          • Report Scope

              • Telecommunications retailing – A definition
                • Mobile phone retailers’ sales
                  • Mobile phone packages
                    • Technology definitions
                      • Abbreviations
                        • Technical notes
                          • Definitions
                            • Currencies
                              • Figure 1: Exchange rates, € to other European currencies, 2004-08
                            • Country codes
                              • Figure 2: Country codes
                            • VAT
                              • Figure 3: Europe: Standard VAT rates, 2008
                            • Other abbreviations
                            • European Summary

                              • The European telecommunications retail sector
                                • The European telecommunications market size and forecast
                                  • Market size by country
                                    • Figure 4: Consumer spending on communications, by country, 2007
                                    • Figure 5: Breakdown of spending on telecoms equipment and services, by country, 2003-08
                                  • Germany the largest market but not per capita
                                    • Figure 6: Per-capita spending on communications, by country, 2007
                                  • Developing countries drawn to telecoms
                                    • Figure 7: Spending on communications as a proportion of all consumer spending, 2007
                                  • Penetration rates reaching saturation
                                    • Figure 8: Mobile phone penetration rates, 2008
                                  • Pre-pay helping to boost popularity
                                    • Figure 9: Split of pre-pay and post-pay mobile phone deals, by country, 2008
                                  • Retail sales and forecasts
                                    • Definition of the sector
                                      • Outlook and forecasts
                                        • Figure 10: Miscellaneous specialists sales, by country, 2004-13
                                      • Retail competitor analysis
                                          • Figure 11: Retailer competitor analysis, 2007-08
                                        • Future expectations
                                          • Added-services and convergence key to turnover growth
                                            • The fixed-line suffers
                                              • Resurgence of pre-pay
                                                • Keeping the higher-spending contract customers
                                                  • Becoming a showcase for technology
                                                    • Failing to make the most of all on offer
                                                    • Europe – Background Data

                                                      • Overview
                                                        • The big five economies
                                                          • Wealthiest and poorest markets
                                                            • Figure 12: Europe: GDP, consumer spending and retail sales per capita, by country, 2007
                                                          • Fastest growing markets
                                                            • Figure 13: Europe: Fastest growing economies, GDP (current prices) growth, 2003-07
                                                            • Figure 14: Europe: Fastest growing retail markets, 2003-07
                                                          • Summary tables
                                                            • Population
                                                              • Figure 15: Europe: Population, by country, 2003-07
                                                            • GDP
                                                              • Figure 16: Europe: GDP, by country, 2003-07
                                                            • Consumer expenditure
                                                              • Figure 17: Europe: Total consumer expenditure (current prices), 2003-07
                                                            • Inflation
                                                              • Figure 18: Europe: Inflation, by country, 2003-07
                                                            • All retail sales
                                                              • Figure 19: Europe: Retail sales, by country, 2003-07
                                                          • Austria

                                                            • Market in brief
                                                              • Sector size and forecast
                                                                • Economic outlook
                                                                  • Retailers’ prospects
                                                                    • Figure 20: Austria: Miscellaneous retailers’ sales, 2004-13
                                                                  • Telecoms spending
                                                                    • Figure 21: Austria: Consumer spending on communications, 2003-08
                                                                  • Price deflation
                                                                    • Figure 22: Austria: Price index, communications, 2000-08
                                                                  • Telecoms equipment ownership
                                                                    • Figure 23: Austria: Penetration of Fixed line and mobile telephones, 2005-08
                                                                    • Figure 24: Austria : Penetration of mobile phones and type of contract, by age bracket, 2008
                                                                  • Retail competitor analysis
                                                                    • Key points
                                                                      • Mobile network operators dominate
                                                                        • Independent specialists and MVNOs
                                                                          • Electricals retailers
                                                                            • Figure 25: Austria: Leading telecoms retailers, 2007/08
                                                                        • Belgium

                                                                          • Market in brief
                                                                            • Sector size and forecast
                                                                              • Economic outlook
                                                                                • Retailers’ prospects
                                                                                  • Figure 26: Belgium: Retail sales, 2004-13
                                                                                • Telecoms spending
                                                                                  • Figure 27: Belgium: Consumer spending on communications, 2003-08
                                                                                • Telecoms equipment ownership
                                                                                  • Figure 28: Belgium: Fixed-line and mobile telephone rates of penetration per consumer, 2000-06
                                                                                  • Figure 29: Belgium: Evolution of phone ownership, by type of connection, 2001-06
                                                                                • Retail competitor analysis
                                                                                  • Key points
                                                                                    • Recent trends and developments
                                                                                      • Three network players striving for supremacy
                                                                                        • MVNOs struggling for growth?
                                                                                          • No future for Avenir
                                                                                            • Figure 30: Belgium: Leading telecoms retailers, 2007/08
                                                                                          • Enterprise data
                                                                                            • Figure 31: Belgium: Enterprise data, 2001-06
                                                                                        • Czech Republic

                                                                                          • Market in brief
                                                                                            • Sector size and forecast
                                                                                              • Economic outlook
                                                                                                • Retailers’ prospects
                                                                                                    • Figure 32: Czech Republic: Retail sales, 2004-13
                                                                                                  • Telecoms spending
                                                                                                      • Figure 33: Czech Republic: Consumer spending on communications, 2003-08
                                                                                                      • Figure 34: Czech Republic: Telecommunications services spending, share by type of service, 2006-07
                                                                                                    • Price deflation in equipment, services steady
                                                                                                      • Figure 35: Czech Republic: Price index, communications, 2003-07
                                                                                                    • Telecoms equipment ownership
                                                                                                      • Figure 36: Czech Republic: Mobile phone ownership, by age group, 2003 and 2007
                                                                                                      • Figure 37: Czech Republic: Mobile phone vs land line, by age group, 2006
                                                                                                    • Retail competitor analysis
                                                                                                      • Key points
                                                                                                        • MNOs dominate mobiles distribution
                                                                                                          • Recent trends and innovations
                                                                                                            • Mobile advertising trialled
                                                                                                              • Expanding distribution
                                                                                                                • Targeting niche groups
                                                                                                                  • Hands-on approach
                                                                                                                    • Figure 38: Czech Republic: Leading mobile network operators, 2007/08
                                                                                                                    • Figure 39: Czech Republic: Identified telecoms retailers, 2008
                                                                                                                • Denmark

                                                                                                                  • Market in brief
                                                                                                                    • Sector size and forecast
                                                                                                                      • Economic outlook
                                                                                                                        • Retailers’ prospects
                                                                                                                            • Figure 40: Denmark: Retail sales, 2004-13
                                                                                                                          • Telecoms spending
                                                                                                                              • Figure 41: Denmark: Consumer spending on communications, 2003-08
                                                                                                                            • Handset prices fall, services steady
                                                                                                                              • Figure 42: Denmark: Price index, communications, 2003-08
                                                                                                                            • Specialists’ performance volatile
                                                                                                                                • Figure 43: Denmark: Sales of office and telecoms equipment retailers, 2003-08
                                                                                                                              • Telecoms equipment ownership
                                                                                                                                • Figure 44: Denmark, Usage of mobile phones and advanced handset features, 2008
                                                                                                                                • Figure 45: Denmark: Usage of advanced handset features, by age group, 2008
                                                                                                                                • Figure 46: Denmark: Mobile phone subscriptions, 2003-08
                                                                                                                              • Retail competitor analysis
                                                                                                                                • Key points
                                                                                                                                  • Recent trends and developments
                                                                                                                                    • Voluntary group Telekaeden still strong
                                                                                                                                      • Dantalk saved but loses members
                                                                                                                                        • Telia expands distribution
                                                                                                                                          • Sonofon expands with partners and acquisitions
                                                                                                                                            • TDC and 3 keen on services
                                                                                                                                              • MVNOs enter the market
                                                                                                                                                • Figure 47: Denmark: Leading telecoms retailers, 2007
                                                                                                                                                • Figure 48: Denmark: Leading telecoms network operators, 2008
                                                                                                                                              • Market shares
                                                                                                                                                • Figure 49: Denmark: Leading retailers’ share of telecoms spending, 2007
                                                                                                                                              • Enterprise and outlet data
                                                                                                                                                • Figure 50: Denmark: Retail sale of telecommunications equipment, enterprises and employment, 2003-06
                                                                                                                                            • Finland

                                                                                                                                              • Market in brief
                                                                                                                                                • Sector size and forecast
                                                                                                                                                  • Economic outlook
                                                                                                                                                    • Retailers’ prospects
                                                                                                                                                        • Figure 51: Finland: Retail sales, 2004-13
                                                                                                                                                      • Telecoms spending
                                                                                                                                                          • Figure 52: Finland: Consumer spending on communications, 2003-08
                                                                                                                                                        • Steady price deflation
                                                                                                                                                          • Figure 53: Finland: Price index, communications, 2003-07
                                                                                                                                                        • Specialists’ performance volatile
                                                                                                                                                          • Figure 54: Finland: Sales of office and telecoms equipment retailers, 2003-08
                                                                                                                                                        • Telecoms equipment ownership
                                                                                                                                                          • Figure 55: Finland: Mobile phone ownership in households, 2002-07
                                                                                                                                                        • Retail competitor analysis
                                                                                                                                                          • Key points
                                                                                                                                                              • Figure 56: Finland: Leading telecoms retailers, 2008
                                                                                                                                                            • Enterprise and outlet data
                                                                                                                                                              • Figure 57: Finland: Office and telecoms equipment, outlet and enterprise numbers, 2003-07
                                                                                                                                                          • France

                                                                                                                                                            • Market in brief
                                                                                                                                                              • The future
                                                                                                                                                                • Market size and performance
                                                                                                                                                                  • The competitive landscape
                                                                                                                                                                    • Broader market environment
                                                                                                                                                                      • Key points
                                                                                                                                                                        • Population growth forecast to slow
                                                                                                                                                                            • Figure 58: France: Population trends, 2003-08
                                                                                                                                                                            • Figure 59: France: Population projections, by age group, 2005-45
                                                                                                                                                                          • Implications for retailers and providers
                                                                                                                                                                            • Economy
                                                                                                                                                                              • Inevitable recession
                                                                                                                                                                                  • Figure 60: France: Gross domestic product, 1996-2007
                                                                                                                                                                                • Consumer confidence undermined by economic insecurity
                                                                                                                                                                                    • Figure 61: France: Household consumer expenditure, 1995-2007
                                                                                                                                                                                  • Plummeting consumer confidence
                                                                                                                                                                                    • Figure 62: France: Consumer confidence, January 1998-November 2008
                                                                                                                                                                                  • Inflation falling once more
                                                                                                                                                                                    • Figure 63: France: Consumer prices, 2002-08
                                                                                                                                                                                  • Implications for retailers and providers
                                                                                                                                                                                    • The market in context
                                                                                                                                                                                      • Key points
                                                                                                                                                                                        • Spending on telecommunications just behind overall spending
                                                                                                                                                                                          • Figure 64: France: Consumer spending on selected categories of goods, 2003-07
                                                                                                                                                                                        • Spending changes
                                                                                                                                                                                          • Figure 65: France: Spending on telecommunications, 1996-2007
                                                                                                                                                                                        • Prices in freefall
                                                                                                                                                                                          • Figure 66: France: Consumer prices, telecommunications 1998-2007
                                                                                                                                                                                        • Mobile phone penetration
                                                                                                                                                                                          • Figure 67: France: Rates of fixed-line and mobile phone penetration, by age group, 2006
                                                                                                                                                                                          • Figure 68: France: Rates of fixed-line and mobile phone penetration, by family status, 2006
                                                                                                                                                                                          • Figure 69: France: Rates of mobile phone penetration, by region, 2006
                                                                                                                                                                                        • Sector size and forecast
                                                                                                                                                                                          • Key points
                                                                                                                                                                                            • Retailers’ prospects
                                                                                                                                                                                                • Figure 70: France: Retail sales, 2004-13
                                                                                                                                                                                                • Figure 71: France: Miscellaneous specialists’ sales as proportion of all non-food retail sales, 2004-13
                                                                                                                                                                                              • Recent trends in French telecoms retailing
                                                                                                                                                                                                • Retail competitor analysis
                                                                                                                                                                                                  • Key points
                                                                                                                                                                                                    • Triumvirate hold the power
                                                                                                                                                                                                      • Rise of the MVNO
                                                                                                                                                                                                        • Competition for mobile phone retailers
                                                                                                                                                                                                          • Growth potential
                                                                                                                                                                                                            • Figure 72: France: Leading players in the telecoms retail sector, 2007/08
                                                                                                                                                                                                          • Enterprise and outlet data
                                                                                                                                                                                                          • Germany

                                                                                                                                                                                                            • Market in brief
                                                                                                                                                                                                              • The future
                                                                                                                                                                                                                • Market size and performance
                                                                                                                                                                                                                  • Mobile phone ownership
                                                                                                                                                                                                                    • Leading players
                                                                                                                                                                                                                      • Broader market environment
                                                                                                                                                                                                                        • Key points
                                                                                                                                                                                                                          • Population in decline
                                                                                                                                                                                                                            • Figure 73: Germany: Population trends, 2003-07
                                                                                                                                                                                                                            • Figure 74: Germany: Births, deaths, immigration and emigration, 2000-07
                                                                                                                                                                                                                            • Figure 75: Germany: Population, by age group, 2006, 2010 and 2015
                                                                                                                                                                                                                          • Implications for telecoms
                                                                                                                                                                                                                            • Economy in recession
                                                                                                                                                                                                                              • Figure 76: Germany: Gross domestic product, 1998-2008
                                                                                                                                                                                                                            • Implications for telecoms
                                                                                                                                                                                                                              • Weak consumer spending
                                                                                                                                                                                                                                  • Figure 77: Germany: Consumer expenditure, 1999-2008
                                                                                                                                                                                                                                • Inflation in free-fall
                                                                                                                                                                                                                                  • Figure 78: Germany: Consumer prices, 1999-2008
                                                                                                                                                                                                                                • The market in context
                                                                                                                                                                                                                                  • Key points
                                                                                                                                                                                                                                    • Telecoms spending
                                                                                                                                                                                                                                      • Figure 79: Germany: Consumer spending on communications, 2002-08
                                                                                                                                                                                                                                      • Figure 80: Germany: Consumer spending on communications, by segment, 2007
                                                                                                                                                                                                                                      • Figure 81: Germany: Annual telephone usage, by type, 2002-07
                                                                                                                                                                                                                                    • Price deflation
                                                                                                                                                                                                                                      • Figure 82: Germany: Consumer Price Index for communications, 2000-07
                                                                                                                                                                                                                                      • Figure 83: Consumer Price Index for telecommunications services, 2005-08
                                                                                                                                                                                                                                    • Telecoms equipment ownership
                                                                                                                                                                                                                                      • Fixed line telephones
                                                                                                                                                                                                                                        • Figure 84: Germany: Percentage of households with telecoms services and products, 2003-07
                                                                                                                                                                                                                                      • Mobile phone ownership
                                                                                                                                                                                                                                        • Figure 85: Germany: Number of mobile phone users, 1992-2007
                                                                                                                                                                                                                                      • Type of mobile phone contract
                                                                                                                                                                                                                                        • Figure 86: Germany: Proportion of pre-pay and contract customers, 2002-07e
                                                                                                                                                                                                                                      • Sector size and forecast
                                                                                                                                                                                                                                        • Key points
                                                                                                                                                                                                                                          • Economic outlook
                                                                                                                                                                                                                                            • Consumer outlook
                                                                                                                                                                                                                                              • Retailers’ prospects
                                                                                                                                                                                                                                                • Figure 87: Germany: Miscellaneous specialists’ retail sales, 2004-13
                                                                                                                                                                                                                                              • Retail competitor analysis
                                                                                                                                                                                                                                                • Key points
                                                                                                                                                                                                                                                  • Network operators dominate
                                                                                                                                                                                                                                                    • Figure 88: Germany: Mobile phone market, share of customers, by network operator, 2003-07
                                                                                                                                                                                                                                                  • Growing importance of MVNOs
                                                                                                                                                                                                                                                    • Consolidation among telecoms retailers
                                                                                                                                                                                                                                                      • Competition from outside the sector
                                                                                                                                                                                                                                                        • Figure 89: Germany: Leading telecoms players, 2007/08
                                                                                                                                                                                                                                                    • Greece

                                                                                                                                                                                                                                                      • Market in brief
                                                                                                                                                                                                                                                        • Sector size and forecast
                                                                                                                                                                                                                                                          • Economic outlook
                                                                                                                                                                                                                                                            • Retailers’ prospects
                                                                                                                                                                                                                                                              • Figure 90: Greece: Miscellaneous retailers’ sales, 2004-13
                                                                                                                                                                                                                                                            • Telecoms spending
                                                                                                                                                                                                                                                                • Figure 91: Greece: Consumer spending on communications, 2003-08
                                                                                                                                                                                                                                                              • Telecoms equipment ownership
                                                                                                                                                                                                                                                                • Figure 92: Greece: Total number of mobile subscribers, 2000-07
                                                                                                                                                                                                                                                              • Retail competitor analysis
                                                                                                                                                                                                                                                                • Key points
                                                                                                                                                                                                                                                                  • Recent developments
                                                                                                                                                                                                                                                                    • Network operators dominate
                                                                                                                                                                                                                                                                      • Germanos and Alpha Copy
                                                                                                                                                                                                                                                                        • Electrical specialists
                                                                                                                                                                                                                                                                            • Figure 93: Greece: Leading telecoms retailers, 2007/08
                                                                                                                                                                                                                                                                        • Hungary

                                                                                                                                                                                                                                                                          • Market in brief
                                                                                                                                                                                                                                                                            • Sector size and forecast
                                                                                                                                                                                                                                                                              • Economic outlook
                                                                                                                                                                                                                                                                                • Retailers’ prospects
                                                                                                                                                                                                                                                                                    • Figure 94: Hungary: Miscellaneous specialists’ sales, 2004-13
                                                                                                                                                                                                                                                                                  • Telecoms spending
                                                                                                                                                                                                                                                                                    • Figure 95: Hungary: Consumer spending on communications, 2003-08
                                                                                                                                                                                                                                                                                  • Telecoms equipment ownership
                                                                                                                                                                                                                                                                                      • Figure 96: Hungary: Number of fixed line and mobile connections, 2004-08
                                                                                                                                                                                                                                                                                      • Figure 97: Hungary: Number of calls on Fixed and Mobile networks, 1995-2007
                                                                                                                                                                                                                                                                                    • Retail competitor analysis
                                                                                                                                                                                                                                                                                      • Key points
                                                                                                                                                                                                                                                                                        • Mobile network operators
                                                                                                                                                                                                                                                                                          • Lack of competition from MVNOs
                                                                                                                                                                                                                                                                                            • Figure 98: Hungary: Leading telecoms retailers, 2007/08
                                                                                                                                                                                                                                                                                        • Republic of Ireland

                                                                                                                                                                                                                                                                                          • Market in brief
                                                                                                                                                                                                                                                                                            • Sector size and forecast
                                                                                                                                                                                                                                                                                              • Economic outlook
                                                                                                                                                                                                                                                                                                • Retailers’ prospects
                                                                                                                                                                                                                                                                                                  • Figure 99: Republic of Ireland: Retail sales, 2004-13
                                                                                                                                                                                                                                                                                                • Telecoms spending
                                                                                                                                                                                                                                                                                                    • Figure 100: Republic of Ireland: Consumer expenditure on communications, 2003-08
                                                                                                                                                                                                                                                                                                  • Telecoms equipment ownership
                                                                                                                                                                                                                                                                                                    • Figure 101: Ireland: Mobile phone penetration rate, 2004-07
                                                                                                                                                                                                                                                                                                    • Figure 102: Ireland: Mobile phone users, by contract type, 2004-07
                                                                                                                                                                                                                                                                                                    • Figure 103: Ireland: Proportion of users on pre-pay and post-pay mobile phone deals, 2004-07
                                                                                                                                                                                                                                                                                                  • Retail competitor analysis
                                                                                                                                                                                                                                                                                                    • Key points
                                                                                                                                                                                                                                                                                                      • Recent trends and developments
                                                                                                                                                                                                                                                                                                        • New kids on the block
                                                                                                                                                                                                                                                                                                          • MVNO’s yet to emerge
                                                                                                                                                                                                                                                                                                            • Specialist retailers tentative
                                                                                                                                                                                                                                                                                                              • Figure 104: Republic of Ireland: Leading telecoms retailers, 2007/08
                                                                                                                                                                                                                                                                                                            • Enterprise data
                                                                                                                                                                                                                                                                                                              • Figure 105: Republic of Ireland: Number of enterprises, 2002-06
                                                                                                                                                                                                                                                                                                          • Italy

                                                                                                                                                                                                                                                                                                            • Market in brief
                                                                                                                                                                                                                                                                                                              • The future
                                                                                                                                                                                                                                                                                                                • Sector size and performance
                                                                                                                                                                                                                                                                                                                  • The competitive landscape
                                                                                                                                                                                                                                                                                                                    • Broader market environment
                                                                                                                                                                                                                                                                                                                      • Key points
                                                                                                                                                                                                                                                                                                                        • Dependent population growing
                                                                                                                                                                                                                                                                                                                          • Figure 106: Italy: Population trends, 2003-07
                                                                                                                                                                                                                                                                                                                          • Figure 107: Italy: Population projections, by age group, 2007-47
                                                                                                                                                                                                                                                                                                                        • Implications for retailers
                                                                                                                                                                                                                                                                                                                          • Economy slips into recession
                                                                                                                                                                                                                                                                                                                              • Figure 108: Italy: Gross domestic product, 1996-2007
                                                                                                                                                                                                                                                                                                                            • Weakening consumer confidence hampers spending
                                                                                                                                                                                                                                                                                                                                • Figure 109: Italy: Household consumer expenditure, 1996-2007
                                                                                                                                                                                                                                                                                                                              • Implications for mobile phone retailers
                                                                                                                                                                                                                                                                                                                                • Inflation again decelerating
                                                                                                                                                                                                                                                                                                                                  • Figure 110: Italy: Consumer prices, 2002-07
                                                                                                                                                                                                                                                                                                                                • Unemployment decline halts?
                                                                                                                                                                                                                                                                                                                                  • Figure 111: Italy: Unemployment rate, 1998-2008
                                                                                                                                                                                                                                                                                                                                • Telecoms equipment ownership and usage
                                                                                                                                                                                                                                                                                                                                  • Figure 112: Italy: Number of active mobile phone lines and prepaid cards, 2003-07
                                                                                                                                                                                                                                                                                                                                  • Figure 113: Italy: Mobile phone usage, by demographic group, 2006
                                                                                                                                                                                                                                                                                                                                  • Figure 114: Italy: Mobile phone features used, 2006
                                                                                                                                                                                                                                                                                                                                  • Figure 115: Italy: Usage of selected mobile phone features, by age group, 2006
                                                                                                                                                                                                                                                                                                                                • Market in context
                                                                                                                                                                                                                                                                                                                                  • Key points
                                                                                                                                                                                                                                                                                                                                    • Mature telecoms posts weak growth
                                                                                                                                                                                                                                                                                                                                      • Figure 116: Italy: Consumer spending, growth in selected main categories (current prices), 2003-07
                                                                                                                                                                                                                                                                                                                                    • Equipment in decline, services steam ahead
                                                                                                                                                                                                                                                                                                                                        • Figure 117: Italy: Consumer spending on communications, 2003-08
                                                                                                                                                                                                                                                                                                                                      • Price a major factor
                                                                                                                                                                                                                                                                                                                                          • Figure 118: Italy: Consumer Price Index, communications, 2003-07
                                                                                                                                                                                                                                                                                                                                        • Sector size and forecast
                                                                                                                                                                                                                                                                                                                                          • Key points
                                                                                                                                                                                                                                                                                                                                            • Economic outlook
                                                                                                                                                                                                                                                                                                                                              • Retailers’ prospects
                                                                                                                                                                                                                                                                                                                                                  • Figure 119: Italy: Miscellaneous specialists’ retail sales, 2004-13
                                                                                                                                                                                                                                                                                                                                                • Recent trends in telecoms sector
                                                                                                                                                                                                                                                                                                                                                  • Network operators’ handset revenue
                                                                                                                                                                                                                                                                                                                                                    • Figure 120: Italy: Mobile telephone companies’ revenues, by type, 2004 and 2007
                                                                                                                                                                                                                                                                                                                                                  • Retail competitor analysis
                                                                                                                                                                                                                                                                                                                                                    • Key points
                                                                                                                                                                                                                                                                                                                                                      • Network operators dominate
                                                                                                                                                                                                                                                                                                                                                        • MVNOs heat up competition
                                                                                                                                                                                                                                                                                                                                                          • Services key to growth?
                                                                                                                                                                                                                                                                                                                                                              • Figure 121: Italy: Leading telecoms retailers, 2008
                                                                                                                                                                                                                                                                                                                                                          • The Netherlands

                                                                                                                                                                                                                                                                                                                                                            • Market in brief
                                                                                                                                                                                                                                                                                                                                                              • Sector size and forecast
                                                                                                                                                                                                                                                                                                                                                                • Economic outlook
                                                                                                                                                                                                                                                                                                                                                                  • Retailers’ prospects
                                                                                                                                                                                                                                                                                                                                                                      • Figure 122: The Netherlands: Miscellaneous retailers’ sales, 2004-13
                                                                                                                                                                                                                                                                                                                                                                    • Telecoms spending
                                                                                                                                                                                                                                                                                                                                                                      • Figure 123: Netherlands: Consumer spending on communications, 2003-08
                                                                                                                                                                                                                                                                                                                                                                    • Price deflation
                                                                                                                                                                                                                                                                                                                                                                      • Figure 124: Netherlands: Consumer Price Index, communications, 2000-08
                                                                                                                                                                                                                                                                                                                                                                    • Telecoms equipment ownership
                                                                                                                                                                                                                                                                                                                                                                        • Figure 125: The Netherlands: Mobile phone connections, 2006-08
                                                                                                                                                                                                                                                                                                                                                                        • Figure 126: The Netherlands: Annual telephone usage, by type, June 2006-June 2008
                                                                                                                                                                                                                                                                                                                                                                      • Retail competitor analysis
                                                                                                                                                                                                                                                                                                                                                                        • Key points
                                                                                                                                                                                                                                                                                                                                                                          • Rising consolidation
                                                                                                                                                                                                                                                                                                                                                                            • Large presence of independent retailers
                                                                                                                                                                                                                                                                                                                                                                              • Cut-back in handset subsidies
                                                                                                                                                                                                                                                                                                                                                                                • Retailers seeking clearer differentiation
                                                                                                                                                                                                                                                                                                                                                                                  • Figure 127: The Netherlands: Leading telecoms players, 2007/08
                                                                                                                                                                                                                                                                                                                                                                                • Enterprise and outlet data
                                                                                                                                                                                                                                                                                                                                                                                  • Figure 128: The Netherlands: Enterprise and outlet numbers for telecommunications equipment retailers, 2005-08
                                                                                                                                                                                                                                                                                                                                                                                  • Figure 129: The Netherlands: Number of telecommunication equipment outlets, 1995-2006
                                                                                                                                                                                                                                                                                                                                                                              • Norway

                                                                                                                                                                                                                                                                                                                                                                                • Market in brief
                                                                                                                                                                                                                                                                                                                                                                                  • Sector size and forecast
                                                                                                                                                                                                                                                                                                                                                                                    • Economic outlook
                                                                                                                                                                                                                                                                                                                                                                                      • Retailers’ prospects
                                                                                                                                                                                                                                                                                                                                                                                          • Figure 130: Norway: Retail sales, 2004-13
                                                                                                                                                                                                                                                                                                                                                                                        • Telecoms spending
                                                                                                                                                                                                                                                                                                                                                                                            • Figure 131: Norway, consumer spending on communications, 2003-08
                                                                                                                                                                                                                                                                                                                                                                                          • Specialists begin to lose share of all retail
                                                                                                                                                                                                                                                                                                                                                                                            • Figure 132: Norway: Sales of office and telecoms equipment retailers, 2003-08
                                                                                                                                                                                                                                                                                                                                                                                          • Telecoms equipment ownership
                                                                                                                                                                                                                                                                                                                                                                                            • Saturation high, features go unused
                                                                                                                                                                                                                                                                                                                                                                                              • Figure 133: Norway: Share of population owning a mobile phone, 1999-2007
                                                                                                                                                                                                                                                                                                                                                                                              • Figure 134: Norway: Features used on mobile phone, by gender, 2008
                                                                                                                                                                                                                                                                                                                                                                                              • Figure 135: Norway: Features used on mobile phone, by age, 2008
                                                                                                                                                                                                                                                                                                                                                                                            • Retail competitor analysis
                                                                                                                                                                                                                                                                                                                                                                                              • Key points
                                                                                                                                                                                                                                                                                                                                                                                                • Recent trends and developments
                                                                                                                                                                                                                                                                                                                                                                                                  • Network operators strong in retail
                                                                                                                                                                                                                                                                                                                                                                                                    • Branching out overseas
                                                                                                                                                                                                                                                                                                                                                                                                      • Telekiosken expands offer and stores
                                                                                                                                                                                                                                                                                                                                                                                                        • Non-specialists remain important
                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 136: Norway: Leading telecoms retailers, 2007
                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 137: Norway: Leading mobile telecoms network operators, 2008
                                                                                                                                                                                                                                                                                                                                                                                                        • Market shares
                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 138: Norway: Leading retailers’ share of telecoms spending, 2007
                                                                                                                                                                                                                                                                                                                                                                                                      • Poland

                                                                                                                                                                                                                                                                                                                                                                                                        • Market in brief
                                                                                                                                                                                                                                                                                                                                                                                                          • Sector size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                            • Economic outlook
                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 139: Poland: All food retailers’ sales, 2004-13
                                                                                                                                                                                                                                                                                                                                                                                                            • Telecoms equipment ownership
                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 140: Poland: Total mobile phone subscribers, 1995-2007
                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 141: Poland: Mobile phone penetration rate, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 142: Poland: Consumer Price Indices, communications, 2000-07
                                                                                                                                                                                                                                                                                                                                                                                                            • Retail competitor analysis
                                                                                                                                                                                                                                                                                                                                                                                                              • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                • Recent developments
                                                                                                                                                                                                                                                                                                                                                                                                                  • Vying for top spot
                                                                                                                                                                                                                                                                                                                                                                                                                    • Rise of the MVNOs
                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail competition
                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 143: Poland: Leading telecoms retailers, 2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                      • Enterprise data
                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 144: Poland: Retail enterprises, 2002-06
                                                                                                                                                                                                                                                                                                                                                                                                                    • Portugal

                                                                                                                                                                                                                                                                                                                                                                                                                      • Market in brief
                                                                                                                                                                                                                                                                                                                                                                                                                        • Sector size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                          • Economic outlook
                                                                                                                                                                                                                                                                                                                                                                                                                            • Retailers’ prospects
                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 145: Portugal: Miscellaneous retailers’ sales, 2004-13
                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 146: Portugal: Consumer spending on communications, 2003-08
                                                                                                                                                                                                                                                                                                                                                                                                                            • Telecoms equipment ownership
                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 147: Portugal: Households with a mobile phone, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 148: Portugal: Telephone traffic, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                            • Retail competitor analysis
                                                                                                                                                                                                                                                                                                                                                                                                                              • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                • TMN
                                                                                                                                                                                                                                                                                                                                                                                                                                  • Vodafone
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Optimus
                                                                                                                                                                                                                                                                                                                                                                                                                                      • MVNOs
                                                                                                                                                                                                                                                                                                                                                                                                                                        • Independent specialists
                                                                                                                                                                                                                                                                                                                                                                                                                                          • Electricals specialists
                                                                                                                                                                                                                                                                                                                                                                                                                                            • Online retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 149: Portugal: Leading telecoms retailers, 2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                          • Spain

                                                                                                                                                                                                                                                                                                                                                                                                                                            • Market in brief
                                                                                                                                                                                                                                                                                                                                                                                                                                              • The future
                                                                                                                                                                                                                                                                                                                                                                                                                                                • Market size and performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • The competitive landscape
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Broader market environment
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Gradual population growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Growing population…
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 150: Spain: Population trends, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • …is also ageing
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 151: Spain: Population projections, by age group, 2007 and 2015
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Implications for telecoms
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Economy
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The good times are over
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 152: Spain: Gross domestic product, 1998-2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Inflation beginning to cool
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 153: Spain: Consumer prices, 1999-2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Unemployment rising
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 154: Spain: Unemployment rate, 1996-2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Consumer confidence hitting new lows
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 155: Spain: Consumer confidence indicator, 2005-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Consumer spending falling
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 156: Spain: Household consumer expenditure, 1998-2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Implications for telecoms providers and retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • The market in context
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Telecoms spending just below all spending growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 157: Spain, Household consumer spending on selected categories of goods, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 158: Spain: Household consumer spending on telecoms as proportion of all household consumer spending, 1998-2007
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Mixed price influences
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 159: Spain: Consumer price indices for all products and selected communications areas, 2001-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 160: Spain: Consumer price index for telecommunications and fax equipment, 2001-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Telecoms equipment ownership
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 161: Spain: Mobile phone penetration, by age group, 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 162: Spain: Mobile phone penetration, by region, 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 163: Spain: Households with at least one mobile phone, by household size, 2007
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Sector size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Economic outlook
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Retailers’ prospects
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 164: Spain: Retail sales, 2004-13
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 165: Spain: Other Specialists’ sales as share of all non-food retailers’ sales, 2004-13
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Recent trends in telecoms retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail competitor analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • The big three
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • MVNOs increasing competition
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 166: Spain: Leading telecommunications players, 2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Enterprise data
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 167: Spain: Other specialist enterprise numbers, 2002-06
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Sweden

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market in brief
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Sector size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Economic outlook
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Retailers’ prospects
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 168: Sweden: Miscellaneous specialists’ retail sales, 2004-13
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Telecoms spending
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 169: Sweden: Consumer spending on communications, 2003-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 170: Sweden: Average annual household expenditure on telecommunications, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 171: Sweden: Average household consumption of electronic communications, 2001-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 172: Sweden: Sales of mobile phone handsets, 1993-2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Telecoms equipment ownership and usage
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 173: Sweden: Key indicators for the electronic communications market, 2006-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 174: Sweden: Mobile phone usage, 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 175: Sweden: Mobile phone usage, by age group, 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 176: Sweden: Type of mobile phone usage, 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 177: Sweden: Mobile network operators, call plans and subscriptions brand names, 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 178: Sweden: Mobile phone subscriptions: Share by operator, June 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail competitor analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Recent trends and developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 179: Sweden: Leading telecommunications retailers, 2008/09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market shares
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 180: Sweden: Leading retailers share of telecoms retailers’ sales, 2007
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Enterprise data
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 181: Sweden: Telecoms retailers, number of enterprises, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Switzerland

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market in brief
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Sector size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Economic outlook
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Retailers’ prospects
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 182: Switzerland: Miscellaneous retailers’ sales, 2004-13
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 183: Switzerland: Consumer spending on communications, 2003-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Deflation for both services and equipment
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 184: Switzerland: Price index, communications, 2005-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Telecoms equipment ownership
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 185: Switzerland: Number of mobile connections, 2000-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Retail competitor analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Recent trends and developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Strong position of network operators
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Intense competition leads to consolidation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • MVNOs on the rise
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Electricals specialists
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 186: Switzerland: Leading telecoms retailers, 2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • UK

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Issues in the market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Key themes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Definitions
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Abbreviations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Future opportunities
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Exploit the need to stay connected?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • How to attract more female mobile phone shoppers online?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Can “smartphones” offer “life-hacking” opportunities?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Market in brief
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Network stores continue to dominate the mobile phone retail market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • What is worrying mobile phone retailers?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • 3G finally starting to take off?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • New stores for new products
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Flat-rate pricing accelerating the decline of fixed line
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Internal market environment
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Gap between mobile and fixed-line revenues broadens
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 187: UK: Fixed access and call revenues and mobile revenues, 2002-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • 3G connections rising
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 188: UK: Number of active 3G mobile connections per 100 inhabitants, 2002-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Contract v. pay-as-you-go
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 189: GB: Type of mobile phone contract used, 2004, 2006 & 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Broader market environment
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • PDI
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 190: UK PDI: Total personal disposable income, 2003-13
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Waning consumer confidence
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 191: UK: Nationwide Consumer Confidence Index, May 2004-Jan 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • An ageing population
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 192: UK: Trends in the age structure of the UK population, by gender, 2003-13
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Who’s innovating?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Carphone re-invents the mobile phone store
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • More live handsets in store?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Social networking on the move
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Cash-back is king
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Free phones come to pay-as-you-go
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Strengths and weaknesses
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Strengths
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Weaknesses
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Market size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Multiple phone subscriptions
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 193: UK: Mobile phone subscribers, 2003-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market size and forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 194: UK retail sales of mobile phone handsets (including contract), by volume and value, 2003-13
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Factors used in the forecast
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Sector sales and forecasts
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Economic outlook
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail prospects
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Actions speak louder than words?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Mobile phone specialists
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • ONS retail sales data
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 195: UK: Miscellaneous specialist retailers’ sales, 2004-13
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Retail competitor analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Leading mobile phone retailers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 196: UK: Leading mobile phone retailers, 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Network stores – O2
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Network stores – the others
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Carphone Warehouse
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Phones 4U
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Tesco and the other supermarkets
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Their growth is based on:
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Virgin Mobile affected by Woolworths and Zavvi closures
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 197: UK: Leading mobile phone retailers, 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Brand elements
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Brand map
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 198: Attitudes and usage of telecoms retail brands, January 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The Carphone Warehouse
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • What the consumer thinks
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 199: Attitudes towards the Carphone Warehouse brand of retail stores, January 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Phones 4U
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • What the consumer thinks
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 200: Attitudes towards the Phones 4U brand of retail stores, January 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Vodafone stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • What the consumer thinks
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 201: Attitudes towards the Vodafone brand of retail stores, January 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Orange stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • What the consumer thinks
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 202: Attitudes towards the Orange brand of retail stores, January 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • O2 stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • What the consumer thinks
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 203: Attitudes towards O2 brand of retail stores, January 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Experience of telecoms retail brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Argos is most popular
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 204: Consumer usage of various telecoms retail brands, January 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Brand intentions for telecoms retail brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • 3 Store has the lowest brand consideration
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 205: Consideration of various telecoms retail brands, January 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Brand satisfaction for telecoms retail brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • O2 has most excellent satisfaction
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 206: Satisfaction with various telecoms retail brands, January 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Round-up
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Brand communication and promotion
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Networks dominate adspend in the sector
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 207: UK: Top 25 advertising spenders in the mobile network and handset sector, 2006-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • T-Mobile trying to claw back market share
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 208: UK: Total network subscribers, by network operators, 2003-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Handset makers will need to up the ante
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • And an even busier market set for 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Music a continuing focus of 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 209: UK: Total advertising spend in the mobile network and handset sector, by media type, 2006-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Where do consumers buy mobile phones?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 210: UK: Stores where internet respondents purchased their latest main mobile from, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Networks dominate distribution
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 211: UK: Stores where internet respondents purchased their latest main mobile from, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Independents and supermarkets stronger in-store than online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 212: UK: Stores where internet respondents purchased their latest main mobile from, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Women show greater preference for shopping in store
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 213: UK: Comparison between those buying their latest main mobile via online and offline channels, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Younger consumers buying phones online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 214: UK: Comparison between those buying their latest main mobile via online and offline channels, by detailed demographics, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 215: UK: Comparison between those buying their latest main mobile via online and offline channels, by detailed demographics, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Customers of 3 nearly twice as likely to have bought online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • E-commerce already an important channel
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 216: UK: Method internet respondents used when it came to buying their latest main mobile, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Motivations for shopping at a particular retailer (online and In store)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Topline responses
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 217: UK: Motivations for using a particular website or shop to buy latest main mobile handset, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • 20-34s more price-sensitive when it comes to the package
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 218: UK: “Offered the cheapest deal for the package I wanted”, by age group, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • The handset’s the thing!
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Mobile phone usage habits
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Key points
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Used a lot, but not the advanced features
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 219: UK: Mobile phone usage habits, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Men are from Mars, women are from Venus
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • 3G exposes the generation gap
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • In store versus online
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 220: UK: Consumers’ mobile phone usage habits, by in store/online, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Appendix – Where do consumers buy their mobile phone?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 221: Outlets (online and offline) internet respondents purchased their latest main mobile from, by detailed demographics, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 222: Outlets (online and offline) internet respondents purchased their latest main mobile from, by detailed demographics, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 223: Comparison between those buying their latest main mobile via online and offline channels, by detailed demographics, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 224: Comparison between those buying their latest main mobile from a network store, independent specialist and supermarkets, by detailed demographics, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 225: Method internet respondents used when it came to buying their latest main mobile, by detailed demographics, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Appendix – Motivations for shopping at a particular retailer (online and in store)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 226: Motivations for using a particular website or shop to buy latest main mobile handset, by detailed demographics, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 227: Motivations for using a particular website or shop to buy latest main mobile handset, by detailed demographics, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 228: Motivations for using a particular website or shop to buy latest main mobile handset, by detailed demographics, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Appendix – Mobile phone usage habits
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 229: Mobile phone usage habits, by detailed demographics, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 230: Mobile phone usage habits, by detailed demographics, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 231: Mobile phone usage habits, by detailed demographics, December 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Aircall

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • e-commerce and home shopping
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Avenir Telecom

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Strategic evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 232: Avenir Telecom: Financial performance, 2003/04-2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 233: Avenir Telecom: Sales by market, 2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Bulgaria
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 234: Avenir Telecom: Outlet data, 2007-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Pricing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Advertising and marketing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Base

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 235: BASE: Financial performance, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 236: BASE: Outlet data, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Pricing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • BelCompany

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 237: BelCompany: Sales performance: 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 238: BelCompany: Outlet data, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 239: BelCompany: Retail floor space, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Pricing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Belgacom

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 240: Belgacom: Financial performance, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 241: Belgacom: Turnover, by business unit, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 242: Belgacom: Active customers, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 243: Belgacom: Handset sales, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Fixed Line Services (FLS)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • International Carrier Services (ICS)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Bouygues Telecom

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Strategic evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 244: Bouygues Telecom: Financial performance, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 245: Bouygues Telecom: Outlet data, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • The Carphone Warehouse

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Strategic evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Carphone and Best Buy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 246: The Carphone Warehouse: Group financial performance, 2003/04-2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Business segments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 247: The Carphone Warehouse: Distribution division turnover, 2003/04-2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail (including Online)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 248: The Carphone Warehouse: Retail turnover, 2003/04-2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Turnover by country
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 249: The Carphone Warehouse: Group turnover, by region, 2003/04-2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 250: The Carphone Warehouse: Outlet data, 2003/04-2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 251: The Carphone Warehouse: Company-owned and franchised outlet data, 2003/04-2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 252: The Carphone Warehouse: Sales per m2 in company-owned stores, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Pricing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Advertising and marketing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • e-commerce and home shopping
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Cosmote Mobile Telecommunications

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 253: Cosmote mobile telecommunications: Financial performance, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 254: Cosmote mobile telecommunications: Sales, by country, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 255: Cosmote mobile telecommunications: Customer base, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Germanos
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 256: Germanos: Outlets, by country, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • DNA

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 257: DNA Ltd: Group financial performance, 2005-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • DNA mobile communication business
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 258: DNA Mobile Communications Business: Financial performance, 2006-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 259: DNA Mobile Communications Business: Number of customers, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Advertising and marketing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Elisa Oyj

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 260: Elisa Oyj: Group financial performance, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 261: Elisa Oyj: Mobile communication business, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 262: Elisa Group: Outlet data, Finland, 2005-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Pricing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Espace SFR

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Strategic evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 263: Espace SFR: Financial performance, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 264: Espace SFR: Breakdown of sales turnover, 2004-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 265: Espace SFR: Outlet data, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • France Telecom (Orange)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Strategic evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 266: France Telecom: Financial performance, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Personal Communication Services
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 267: France Telecom: Personal Communication Services, turnover by country, 2004-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 268: France Telecom: Market share and customer numbers within its European markets, 2007
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 269: France Telecom: Home Communication Services revenue, 2004-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Q3 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 270: France Telecom: France and UK outlet data, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 271: France Telecom: Outlet data outside UK and France, December 2007
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Packages
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Hutchison 3G

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Strategic evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 272: 3 Group: Financial performance, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • KPN

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 273: KPN: Financial performance, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • The Netherlands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Mobile International
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Netherlands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 274: KPN: Retail operations in the Netherlands, 2003-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Germany
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 275: KPN: Retail operations in Germany, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Belgium
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 276: KPN: Retail operations in Belgium, 2003–08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Meteor Mobile Communications

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 277: Meteor: Financial performance, 2005/06-2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Mobilezone

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 278: Mobilezone Group (Commerce unit): Financial performance, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 279: Mobilezone: Outlet data, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 280: Mobilezone shops: Brand shares (in volume terms), handsets, 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 281: Mobilezone shops: Brand shares (in volume terms), network operators, 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • MobilKom

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Pricing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Mobistar

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 282: Mobistar: Financial performance, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Business segments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 283: Mobistar: Sales, by business segment, 2004-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 284: Mobistar: Equipment sales, 2004-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 285: Mobistar: Outlet data, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Nokia

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Strategic evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • A radically changed market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • The next wave?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 286: Nokia Corporation: Group financial performance, 2003-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Financial performance by business segment
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 287: Nokia Corporation: Financial performance, by business segment, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Mobile devices
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Developing regions post fastest growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 288: Nokia Corporation: Nokia Mobile Devices, volume, by geographic area, growth 2004-08 and share by region in total 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 289: Nokia Corporation: Nokia Mobile Devices, volume by geographic area, 2003-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Flagship stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Branded stores
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 290: Nokia Corporation: Nokia-branded stores in selected European countries, March 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Services
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Advertising and marketing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 291: Nokia Corporation: Nokia transactional websites in Europe, January 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Phones 4U

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Strategic evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Working on image
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Differentiating in a crowded market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Volatile relations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 292: Phones 4U: Group financial performance, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 293: Phones 4U: Outlet data, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Pricing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Advertising and marketing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • e-commerce and home shopping
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Polska Telefonia Cyfrowa

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 294: Polska Telefonia Cyfrowa: Financial performance, 2003-04
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 295: Deutsche Telekom Group: PTC turnover, 2006-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Sunrise Communications

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 296: Sunrise Communications: Company financials, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 297: Sunrise Communications: Segment turnover, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Swisscom

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 298: Swisscom: Group financial performance, 2003-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Business units
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 299: Swisscom: Business segment revenue, 2007-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 300: Swisscom: Outlet data, 2004-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • T for Telecom

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 301: T for Telecom: Outlet data, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Pricing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • TDC Group

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 302: TDC Group: Group financial performance, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 303: TDC Group: Revenue, by business unit, 2007-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 304: TDC Group: TDC stores, Denmark, 2003-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Pricing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Telecom Italia

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Strategic evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 305: Telecom Italia: Group financial performance, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 306: Telecom Italia: Group revenue, by geographic region, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 307: Telecom Italia: Revenue and profit, by operating segment, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 308: Telecom Italia: Number of fixed line and mobile connections in Italy, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Telefonica/Telefonica Europe (O2)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 309: Telefónica, SA: Financial performance, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Telefónica Spain
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Telefónica Europe
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Telefónica O2 UK
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Telekom Austria

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 310: Telekom Austria: Group financial performance, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Equipment sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 311: Telekom Austria: Equipment sales, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Telenor

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Telenor Norway (Telenor Mobile)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Telenor Sweden (Telenor Mobile)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Telenor Denmark (Sonofon)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Telenor Hungary (Pannon)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Telenor Denmark (Sonofon)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Telenor Hungary (Pannon)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Telenor Sweden
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Telenor Norway (Telenor Mobile)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • e-commerce and home shopping
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • TeliaSonera

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Sweden
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Finland
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Norway
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Denmark
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 312: TeliaSonera: Outlet numbers, 2005-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Sweden
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Norway
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Denmark
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Finland
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Other countries
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • TMN (Portugal Telecom)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 313: TMN: Financial performance, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 314: TMN: Equipment sales, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 315: TMN: Number of subscribers, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 316: TMN: Point of sales data, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • T-Mobile

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 317: Deutsche Telekom AG: Mobile Communication Europe, financial performance, 2006/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 318: Deutsche Telekom AG: Mobile Communication Europe, revenue, by country/region, 2004-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 319: Deutsche Telekom AG: Mobile Communications Europe, customer development, 2005-08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 320: T-Mobile: Outlet data, 2008
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Germany
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Czech Republic
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Austria
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Virgin Mobile

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Strategic evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Losing identity
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Advertising and marketing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • e-commerce
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Vodafone

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Strategic evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Vodafone Group
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 321: Vodafone Group: Group financial performance, 2003/04-2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Revenue by country
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 322: Vodafone Group: European revenue by country, 2003/04-2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 323: Vodafone Group: Number of customers by country, 2003/04-2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Vodafone Distribution (retail outlets)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 324: Vodafone Distribution Limited (Retail outlets): Financial performance, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 325: Vodafone Group: Outlet data, 2004/05-2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 326: Vodafone Distribution Limited (Retail outlets): Outlet data, 2003/04-2007/08
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Wind (Weather Investments)

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • History
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 327: Wind Telecomunicazioni: Financial performance, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Segment analysis
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 328: Wind Telecomunicazioni: Revenue by business segment, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 329: Wind Hellas: Financial performance, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 330: Wind Hellas: Revenue from Equipment Sales, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 331: Wind Telecomunicazioni: Outlet data, 2006-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 332: Wind Hellas: Outlet data, 2003-07
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Market positioning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Product offer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Brands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • e-commerce

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      Telecoms - Europe - April 2009

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      US $3,843.69 (Excl.Tax)