Ofcom has been instructed by the UK government to charge the mobile operators ‘full market value’ for the 2G spectrum they have been using for many years, despite there being no liquid market for the spectrum

Ofcom’s general approach to such an imponderable question is eminently sensible, but we disagree with the detail of their methodology on three key aspects, which makes the current proposed charges over three times too high in our view, effectively charging the industry a one-off tax of £4.5bn

The elevated fee levels are (perhaps) still affordable on their own, but coupled with other recent regulatory decisions the UK is in danger of being seen as a hostile regulatory environment, with negative consequences for future investment levels

H3G Group’s H1 2008 results showed static revenue and EBITDA slipping back into negative territory, neither of which bode well for the company’s target of being EBIT positive next year

The much anticipated iPhone 3G is due to launch in July; it will include 3G and GPS, but will otherwise be quite similar to the old model, and is still a little off-the-pace in feature terms

The recorded music market decline continued without pause in 2007, with global sales down an estimated 11% in value. Physical and internet piracy continue to drive the CD sales decline, along with substitution to downloads, and the bankruptcies of physical retailers in the US and UK. Meanwhile, Apple’s iPod+iTunes music ecosystem continues to be favoured by customers, driving the growth of the digital music market, as ringtones stabilise globally. These recorded music market trends are reducing music publishers’ associated royalty income, although offset by rising royalties from the use of music on broadcast media, film, advertising and the internet

H3G Group’s growth continued to slow in H2 2007, and it is now growing at just 6%, versus 10% 6 months ago, with falling ARPU combining with static subscriber net additions

Powered by strong computer sales at Apple stores and surging European sales (and the weaker dollar), Apple’s dollar revenue for Q1 FY2008 rose 35% year-on-year to $9.6 billion, exceeding guidance of 29%