TeliaSonera Profits Fall
The Nordic region’s largest telecommunications operator, TeliaSonera, reported a surprise fall in first quarter profits Tuesday.
The 2 percent drop is blamed mainly on a price war in the Finnish mobile market and more calling via the Internet.
The company also warned of further earnings pressures for the rest of the year.
Created out of the former public telephone companies of Sweden and Finland, TeliaSonera says the number of fixed line voice customers decreased because of migration to mobile and voice over Internet telephony, as well as dismantling of the company’s Swedish monopoly, allowing customers to switch their monthly subscriptions to other operators.
