Telefonica to launch budget brand

20 Aug 2007

Telefonica plans to launch a discount mobile phone brand in Germany at the end of the summer, an industry source told Reuters. ‘Telefonica has given the green light to this project,’ the source said. The news appears to confirm a report in German magazine Capital that stated Telefonica-owned O2 Germany would introduce a new low-cost brand called Fonic at the end of August.