Bucking all industry trends, Telefonica Moviles’ solid results were driven by an increase in mobile phone sales. The company’s sales grew by 11.2%, climbing to E23 billion, slightly below industry forecasts.
Telfonica’s biggest growth area is in Latin America, although a fall in the standing of Latin American currencies has devalued these earnings.
Telefonica’s results come after a string of losses from other companies in the mobile phone industry. Motorola, Vodafone, Siemens and Telecom Italia have all recently reported poor results.
