O2 gains customers and aims for smartphone sales

MOBILE phone operator O2 plans to increase its investment in its network to support demand from a growing number of smartphones, it said in its quarterly results yesterday.

The UK’s second-biggest phone firm, owned by Spain’s Telefonica, posted revenue for the nine months to September of €5.3bn (£4.5bn), up 5.6 per cent on last year.

Its parent company enjoyed a 65.6 per cent rise in net profit to €8.835bn for the same period. Accounting adjustments, as well as growth in the UK, Germany and Latin America, were the main sources for the jump.

The firm said sales of the next generation of smartphones drove the sales boom, with 352,000 new customers signing up for contracts, mostly for smartphones, in the third quarter. The firm said it plans to enhance smartphone network capabilities in the coming years.

More than 22m customers now use O2, a rise of 4.8 per cent year on year.