Irish MVNO Tesco Mobile Ireland reported narrowing losses and a three-fold increase in revenues in FY2010, leading industry watchers to suggest the unit may have turned a corner. The Irish Times reports that the MVNO, a joint venture with O2 Telefonica in the Republic, booked a net loss of EUR700,000 (USD990,700) last year, compared to losses of EUR4.4 million in FY2009. Turnover rose sharply to EUR10.6 million on the back of strong take-up from cash-strapped customers switching to its low-cost pre-paid plans. Tesco Mobile does not provide a breakdown of subscribers but the paper says the operator is confident it will ‘break the 100,000 barrier in the next few weeks’ on its way to hopefully signing up 140,000 subscribers by the year end. Tesco Mobile Ireland had 35,000 mobile customers at the end of 2009, and has since expanded swiftly thanks to its plan to simplify its product offerings and enhance its handset range – including launching smartphones.
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