Cellcom Israel, the country’s largest cellco by subscribers, has posted a 0.8% fall in revenues for the fourth quarter of 2008, coming in at ILS1.6 billion (USD422 million). The fall in sales was ascribed to a decline in handset and accessories revenue. Net income, however, grew 32% to ILS243 million on the back of successful cost-cutting measures. During the quarter Cellcom added 30,000 subscribers to reach a total of 3.2 million. The number of subscribers to its third generation network reached 731,000 at the end of 2008.