UPDATED: Vodafone upbeat on turnaround despite more customer losses

Number-three telco loses 137,000 customers in six months

Vodafone has blamed “stiff competition” and a saturated market for the loss of 137,000 more customers in the six-month period ended 30 June.

But Australian analysts have pointed instead what they described as a failing turnaround strategy and a scarred brand.

Vodafone ended the half with 5.2 million mobile customers, a 13.6 percent decline from the year before, according to financial results released today by Hutchison Telecommunications Australia Limited (HTAL), which owns half of Vodafone Hutchison Australia.

Hutchison reported a $79.5 million loss for the half year. It was somewhat less (17 per cent) than the $95.8 million loss reported in the same period last year.

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Tags earningsVodafoneTelcofinancial resultstelecomcustomersmobile

More about BillHutchisonHutchison Telecommunications (Aust)OptusTelstra CorporationTelstra CorporationVHAVodafone

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