NEWS

Israel's Partner Comms Q1 profit drops after break with Orange

Tuesday, May 24, 2016

Partner Communications , Israel's second-largest mobile phone operator, reported on Monday a drop in first quarter profit and sales as competition in the cellular market continued to erode service revenues.

Israel's mobile phone industry was shaken up in 2012 with the entry of a host of new operators, sparking a price war that led to steep drops in subscribers, revenue and profit at Partner and two incumbent rivals.

Partner also cut its final ties with French telecoms group Orange earlier this year after nearly two decades of operating under the name Orange.

"The first quarter of 2016 was marked by our decision to part with the Orange brand and to launch the Partner brand," said Chief Executive Isaac Benbenisti. "The unification of the operations under the Partner brand is expected to streamline systems and improve the customer experience."

Partner reported a profit of 14 million shekels ($3.61 million) in the first three months of 2016, down from 25 million shekels a year earlier.

Revenue slipped 7 percent to 977 million shekels.

The company's subscriber base fell 3 percent to about 2.69 million and its total cellular market share dropped to 26 percent from 28 percent a year earlier.

 

Source : telecom.economictimes.indiatimes.com

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