Telecoms vendor results in 2Q09: has the bleeding stopped?

Total revenues--including handsets--for 14 top telecoms vendors amounted to US$52.3 billion in 2Q09, down 20 per cent from 2Q08. This year-on-year (YoY) decline is roughly the same as the YoY declines seen in both 1Q09 and 4Q08. If handsets are excluded, 1H09 group revenues fell by 14 per cent; the downturn has hit consumer spending harder than carrier Capex. Profit results from 2Q09 showed stability, but there remains pressure to cut costs and/or consolidate. The continued rise of Chinese vendors accentuates these trends. Article