Credit crunch bites European mobile market

A new report from Ovum says Europe has become the first regional mobile market to be hit by the economic downturn. After analysing the Q3 2008 financial results of mobile operators around the world, Ovum concluded that, although other markets have so far proved resilient, Europe's top mobile operators show a marked, credit-crunch-induced deterioration in performance. The US mobile market has to date resisted the downturn and developing markets such as Latin America continue to enjoy double-digit revenue growth rates.

The good news is that Ovum does not anticipate a major slowdown for the mobile industry. Although some operators may become vulnerable, says Emeka Obiodu, a senior analyst at Ovum and the lead author of the report, the mobile market remains overwhelmingly buoyant and he expects it to ride out the current financial crises.

For more on this story go to Cellular News and Mobile Europe

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