SAO PAULO: Brazil’s mobile-phone market suffered a sixth monthly decline in subscriptions in November, as the country’s deep economic recession damaged consumer confidence and affected the sale of new phones.
The number of active mobile-phone users in Brazil dropped by 4.2 million in November to a monthly total of 269.59 million, compared with 273.79 million in October, government agency Anatel said.
The country’s mobile-phone market was once a hot industry marked by double-digit expansion. A combination of poor economic activity, high inflation and interest rates, however, is discouraging buyers, according to economists. After a projected contraction of 3.7% last year, Brazil’s economy is expected to contract 3% this year, according to economists.
Telefonica Brasil SA (VIVT4.BR), also known as Vivo, which is part of Spain’s Telefonica SA (TEF.MC), and TIM Participacoes SA (TIMP3.BR), a unit of Telecom Italia SpA (TIT.MI), remained market leaders.
Vivo posted a market share of 29.49% in November, up from 29.01% in October, while TIM ranked second with 25.70%, down from 26.26%.
Claro, the local unit of Mexico’s America Movil SAB de CV (AMOV), ended November with a market share of 24.99%, down from 25.22%, while Brazilian telecommunication company Oi SA (OIBR4.BR) increased its market share to 18.25% from 17.98%.
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