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LONDON, JULY 19: British mobile phone group Vodafone said on Thursday that it won 9.1 million new customers during its first quarter, almost double the amount a year earlier, owing to strong growth in emerging markets.
The additions for the three months to June 30 compared with new clients totaling 4.8 million during the same period in 2006-07.
Analysts had forecast between 4.7 and 7.8 million new customers during Vodafone's first quarter in 2007-08.
Vodafone added in its trading update that it has a total of 232 million subscribers.
"We have made a good start to the financial year, with a strong performance from the EMAPA region (emerging markets) offsetting continued challenging markets in Europe," Vodafone chief executive Arun Sarin said in a statement.
"Our new Indian business has delivered strong growth in the quarter, with its integration into the group progressing well," he added.
In April, Vodafone napped up Indian mobile phone operator Hutchison Essar for USD 11.1 billion.
Buying assets in emerging markets has become a priority for Vodafone as it struggles with a dramatic slowdown and saturated markets in Western Europe.
Vodafone added 6.9 million customers in emerging markets during its first quarter, compared with 9 million a year earlier.
India and Turkey accounted for 3.3 million of the year-on-year increase, while Vodafone said customer growth remained particularly strong in Egypt and South Africa. |