Vodafone performs better as they aim to dominate the emerging markets

Vodafone performs better as they aim to dominate the emerging markets

British mobile service provider Vodafone has said in a statement that they have slashed net losses last year as they aim to expand their presence in the emerging markets around the world.

The company added that their growth strategy in emerging markets has started to show results. Vodafone currently is interested in markets like India and Turkey.

Vodafone just recently acquired a majority stake in the Indian mobile service provider Hutch and is in the process of investing a large sum of money to grow here.

However, Vodafone has also warned in its annual results statement that market conditions in Europe would remain challenging for the current year. They face massive challenge along with regulatory pressures in these countries to stay competitive.

Vodafone chief executive Arun Sarin added in his statement about the company’s improved performance: “These results show we have made good progress in the execution of our strategy.”

Sarin further said: “The last year has also seen a further reshaping of Vodafone’s portfolio, with our acquisitions in Turkey and India further increasing the group’s exposure to the exciting growth opportunities in emerging markets. We are well placed to continue delivering on our strategy.”