How Nokia’s UK arm is bucking the trend of falling sales Business The UK arm of Nokia has bucked the trend set by its parent company by reporting a rise in both its sales and profit for its latest financial year. The division, which is based near Bristol, has reported a turnover of £448.9m for 2023, up from the £441.2m it posted for 2022. Newly-filed accounts with [...]
Tesco Mobile in the red despite sales passing £1bn Business Tesco Mobile fell into the red despite its sales passing the £1bn mark during its latest financial year, it has been revealed. The provider, which is a joint venture between the supermarket giant and Virgin Media 02, has reported a pre-tax loss of £449,000 for 2023, according to newly-filed accounts with Companies House. The loss [...]
Plusnet price rises boost profit after John Lewis closure Business Profit has risen at Plusnet despite a slump in customer numbers following the closure of its mobile division and John Lewis axing its broadband platform. The Sheffield-headquartered broadband provider, which is owned by BT, suffered a 29 per cent reduction in its customer base following the closures. However, annual contractual price rises partially offset the [...]
Huawei: Chinese firm reduced to a shadow of former size as UK restrictions bite September 25, 2024 Turnover at the UK arm of Chinese telecommunications giant Huawei has been slashed by more than £1bn since 2019 as the impact of UK and US restrictions bite. The London-headquartered business has reported a turnover of £229.56m for 2023, down from the £359m it posted in 2022. The latest figure comes after Huawei’s turnover totalled [...]
Analysts see ‘path to approval’ for Vodafone and Three deal September 13, 2024 Although Britain’s competition watchdog has raised fresh concerns over the proposed £15bn tie-up between Vodafone and Three’s UK operations, analysts have suggested the findings of the latest probe are more positive than expected. In its provisional findings, the Competition and Markets Authority (CMA) flagged potential price increases for millions of mobile customers and warned of [...]
Virgin Media O2 to offload stake in mobile tower network September 13, 2024 Virgin Media O2 has reportedly agreed to offload roughly eight per cent of Britain's biggest mobile tower network as the telecoms group looks to fund the expansion of its fibre broadband and mobile operations.