Mobile growth slows as market nears saturation

8 Aug 2003

The combined subscriber base of Spain’s three mobile operators grew by just 2% to 35.3 million in the second quarter 2003, a penetration rate of around 88%. Leading operator Telefonica Moviles [NYSE: TEM] added 183,000 customers during the three months to take its total to 18.88 million, equal to 53.5% of the market, down from 54% in mid-2002. At the same date rival service providers Vodafone [London: VOD] and Retevision had 9.18 million and 7.24 million subscribers respectively.