Carphone Warehouse interim results: calm before the storm?

Carphone Warehouse’s distribution side was very strong in revenue terms in the September quarter, with an underlying (ex-currency) growth of 11%

The company is right to be cautious about the Christmas trading environment, although we believe that it will continue to do well in relative terms at least, and even has a fighting chance of hitting the distribution revenue guidance made back in April

UK TV Advertising and PSB survival

The consultation period for the second phase of Ofcom’s Second Public Service Broadcasting Review closes on 4th December 2008. The central issue before Ofcom is that the current PSB model is broken, lacking the flexibility to “adapt to audiences’ evolving needs”. The primary concern lies with the commercial sector, which is under increasing strain to deliver its PSB commitments due to structural changes in the television medium that have been compounded by the present economic crisis.

NGA in France

This report on France kicks off a series of reports on Next Generation Access on the continent, also covering Germany, Italy, the Netherlands, Spain and Sweden, and concluding with a summary. Each country report is focused on the strategic rationale for NGA, and covers the incumbent's principal competitors, the IPTV opportunity, NGA plans or achievements, and the regulatory agenda.

NGA in The Netherlands

This report on next generation access in The Netherlands is the second, after France, of our reports on NGA in the continent. KPN’s NGA was initially focused on FTTC+VDSL deployment, to cover 15% of the country’s 6 million homes by end 2009. Since May 2008, KPN has moved aggressively on FTTH, establishing a joint venture with Reggefiber, the country’s leading local ‘open’ network operator. Regulatory approval is pending for the end of 2008. The JV’s coverage could eventually reach 70% of homes, making The Netherlands the leading market for FTTH in Europe.




UK Online Handset Sales Monitor

In the attached report, we present an analysis of UK handset sales over the online channel, using data sourced from, an online comparison handset sales site. presents offers from all major online mobile shops, including those from the operators and the major independent retailers, covering handsets, datacards and SIM-only offerings, across prepay and contract connections. In this, our first report, we have focused on issues relating to the market structure and broad market share figures, and our future quarterly updates will focus more on emerging trends

NGA in Germany

This is the third, after France and The Netherlands, of our reports on NGA in the continent. Deutsche Telekom’s NGA extends fibre to the cabinet, with VDSL for the last mile, to cover 25% of the country’s 37 million homes by end 2008. In our view, DTAG’s strategic rationale on NGA is to develop the IPTV proposition to better counter the competitive challenge on broadband and telephony, in core urban areas, of a resurgent cable.


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