UK mobile user survey 2012: networks over handsets (apart from the iPhone)
In this report we show the findings of our 2012 UK mobile user survey. The report is a wide ranging analysis of the mobile market based on our consumer research, focusing on the competitive landscape among the mobile operators and smartphone manufacturers, and the changing consumer behaviour that has and will continue to impact the market |
Mobile, Telecoms |
June 2012 Access this report
|
Carphone Warehouse March quarter results: Prepay declines continue to weigh
CPW’s key operating metrics worsened again in the March quarter, with connection volume growth dropping to -19% and like-for-like revenue growth dropping to -5.5%
Weakness in the UK prepay market continued to affect CPW’s results, with volumes again down 30-40%, but contract sales did not mitigate this as much as last quarter, with growth in the UK but declines in continental Europe |
Mobile, Telecoms |
May 2012 Access this report
|
Enders Analysis' Annual Conference
Enders Analysis co-hosted its annual conference, in conjunction with BNP Paribas and Deloitte, in London on 19 January 2012. The event featured talks by 13 of the most influential figures in media and telecoms, and was chaired by Sir Peter Bazalgette. An edited transcript of notes taken during the speaker presentations follows. |
Media, Technology, Telecoms |
February 2012 Access this report
|
Carphone Warehouse December quarter results: Weak prepay hits revenue, but strong contract supports profits
Carphone Warehouse’s Q3 2011/12 volume and revenue was severely hit by a steep reduction in UK prepay volumes, with prepay subsidy cuts driving a drop in the UK market of as much as 40%
However, stronger volumes of higher margin contract handsets drove a small improvement in gross profit for the quarter
The unexpected prepay weakness means that Carphone Warehouse’s handset business will have roughly flat operating profit in its 2011/12 financial year at best, although given the negative external factors this would reflect a strong underlying performance |
Mobile, Telecoms |
January 2012 Access this report
|
Carphone Warehouse H1 2011/12 results: Late handset launches hurt
Carphone Warehouse’s H1 2011/12 results were overshadowed somewhat by the announcements that it is shutting down its UK ‘big box’ consumer electronics venture and selling its share in the Best Buy US handset business
Its actual core business operating performance was grim, with drops of 12% in volume and 4.5% in like-for-like revenue in the September quarter, with the slashing of prepay subsidies in the UK hitting volumes, and the late arrival of the iPhone 4S hitting revenue |
Mobile, Telecoms |
November 2011 Access this report
|
H3G H1 2011 results: UK strengthens, Italy weakens
After strong underlying improvements in growth and profitability in 2010, in H1 2011 H3G Europe’s service revenue growth was steady at 3% and margins only slightly improved to (underlying) EBIT breakeven
In the UK, service revenue growth accelerated to 7% (from -1% in H2 2010), with EBIT maintained at about breakeven, as the UK company’s ongoing strong contract subscriber growth fed through
Italy suffered roughly the opposite fate, with service revenue growth falling to -8%, as its recent subscriber losses fed through, and EBIT remained firmly negative |
Mobile, Telecoms |
August 2011 Access this report
|
Carphone Warehouse Q1 2011/12 results: weak start to the year
CPW Europe had a weak first quarter, with like-for-like revenue growth of -3.3%, with all of the drop coming from the 18 to 24 month contract length shift in the UK
We expect its performance to improve through the rest of its fiscal year, but it will need to in order to hit even the bottom end of its full year guidance
The US mobile retailing operation is doing much better, with very strong revenue growth, and is likely again to exceed full year guidance |
Mobile, Technology, Telecoms |
July 2011 Access this report
|
Mobile user survey 2011: More smartphones, more usage of smartphones
The most dramatic observation from our survey is the surge in mobile data service usage: 48% of UK mobile users now use a data service at least once a month, up from just 30% last year. This increase is substantially all from the increased number of internet-centric smartphones (i.e. iPhone, BlackBerry and Android handsets) in the base |
Mobile, Telecoms |
June 2011 Access this report
|
Carphone Warehouse Q4 2010/11 results: weathering storms
CPW Europe had a difficult quarter, with volumes falling 9% and like-for-like revenue 2%, due to continued prepay weakness and the shift to 24 month contracts in the UK
The US business was again very strong, growing volumes at 26%, and this strength is likely to continue due to an acceleration in store roll outs
Keeping the European business flat in 2011/12 will be a challenge, but the US business is likely to more than make up for this at the group level |
Mobile, Technology, Telecoms |
May 2011 Access this report
|
H3G 2010 results: improving to breakeven
H3G Europe improved its revenue growth and margins in 2010, albeit not by as much as its headline figures claimed. It is currently growing at 5% with EBIT at around breakeven
Given that its parent company is likely to want to keep EBIT positive, it is likely to be constrained on future investment in subscriber growth, limiting its potential going forward |
Mobile, Telecoms |
April 2011 Access this report
|
Carphone Warehouse Q3 2010-11 results
CPW’s European volume and revenue growth dropped in the December quarter, but this was largely due to the higher mix of prepay in the Christmas period, with underlying trends (strong contract, weak prepay) unchanged
US volume growth surged to 34% as the company continued to roll out standalone stores in malls and shopping centres, and there appears to be plenty of growth to come |
Mobile, Technology, Telecoms |
January 2011 Access this report
|
Carphone Warehouse 2010/11 interim results: US driven growth
CPW’s European handset business had a steady quarter, with growth dipping slightly on the previous quarter but still in line with full year guidance. Smartphone sales are surging, and CPW is orientating its business towards them, but their impact is not unambiguously positive in Europe
The US handset business continued to enjoy strong growth, with this side of their business benefitting strongly from smartphone growth, and this outperformance led the company to increase its full year EBIT guidance |
Mobile, Technology, Telecoms |
November 2010 Access this report
|
Carphone Warehouse June quarter results: steady in Europe, strong in US
CPW saw growing revenue but falling volume in its core European handset retail business, as contract handset growth outperformed prepay
We believe that this is in line with a slightly subdued market, with consumer confidence quite weak across a number of European countries
CPW’s US business did much better, growing at 30%, and it is this strength that leaves us confident in the group’s ability to have a strong full year |
Mobile, Non-UK Telecoms, Telecoms |
July 2010 Access this report
|
Project Canvas and the future of television
Subject to BBC Trust approval, Canvas looks almost certain to launch in spring 2011 after the OFT decided that it did not have the jurisdiction to review Canvas under the merger provisions of the Enterprise Act 2002. The OFT decision does not rule out complaints on other grounds, but the chances of persuading the regulators look very small |
Media, TV, Fixed line, Internet, Telecoms |
June 2010 Access this report
|
TTG update and strategy day: changing the mix
TTG’s indicative full year financial results were solid, but were flattered by the acquisition of Tiscali UK in July 2009
Subscriber growth at TalkTalk is exceptionally strong thanks to effective marketing and a strong proposition, if somewhat at the expense of the acquired businesses |
Fixed line, Telecoms |
May 2010 Access this report
|
Carphone Warehouse Group March 2010 quarter trading update: riding recovery?
CPW grew its core European mobile handset distribution business in underlying like-for-like revenue terms by 3% in the March quarter, and its profits grew by 18% in the 2009/10 year, although connection volumes and actual revenue fell during the quarter
Growth is improving with the recovery, but not dramatically, as its strong competitive performance during the recession is unwinding to some extent. Nonetheless, 2010/11 should see continued improvement, with handset trends still generally going in CPW’s direction |
Mobile, Non-UK Telecoms, Telecoms |
April 2010 Access this report
|
Carphone Warehouse trading update: clearer water
At TalkTalk Group (TTG) net broadband additions were solid, possibly helped by stronger growth in total market demand; but churn at Tiscali UK appears to remain high
TTG revenue was heavily distorted by the Tiscali acquisition but appears to remain in gradual decline on a like-for-like basis, due to continuing decline in non-broadband customers |
Fixed line, Telecoms |
January 2010 Access this report
|
Carphone Warehouse Group interim results to September 2009: forging ahead
Fixed line revenue growth continued to decline excluding the impact of Tiscali UK, but at a manageable rate, and profitability continued to improve strongly. TalkTalk Group is performing well in the run-up to demerger, and management is sounding very confident. But there are some clouds on the horizon, not least the relaunch of Tesco Telecom
Sky+ HD is now manifestly the centre point of a three-pronged operational strategy that focuses on driving customer growth, selling more products into the customer base and seeking efficiencies in fixed costs |
Media |
November 2009 Access this report
|
Carphone Warehouse September quarter trading update: continued resilience
At TalkTalk Group (TTG) net broadband additions at TalkTalk/AOL UK were unexpectedly strong, with low cannibalisation of Tiscali subscribers particularly good news
At the newly acquired Tiscali UK, the inevitable skeletons are starting to emerge from their cupboards. Management appears well prepared for the challenges, although it is early days
Carphone Warehouse’s distribution business grew connections at 2.1% during the quarter, another very creditable performance in a declining market, and it remains well positioned for the market recovery |
Mobile, Telecoms |
October 2009 Access this report
|
Carphone Warehouse June quarter trading update: on course
The distribution business experienced modest growth in connections and revenue, easily outpacing European market handset growth of -15%, as the company continues to build market share
At TalkTalk Group (TTG) net broadband additions for the quarter were relatively strong, given likely market growth, probably due at least in part to reduced subscriber loss at AOL UK
In our view cut-price business broadband, rather than IPTV, offers the best prospect of profitable revenue growth in fixed line |
Mobile, Fixed line, Non-UK Telecoms, Telecoms |
July 2009 Access this report
|
