The year on year operating profit of 02 has fallen to  € 334m  after its revenues have fallen by 6%.
This comes after it's lucrative two year contracts  on Iphone's have ended, and now that it is no longer the exclusive mobile network that offers the much coveted Iphone contract, many of its customers are going elsewhere. the network attempted to retain customers by slashing the price of the newest iphone, the 4s. As well as this it also increased the amount of handset upgrades. A spokesperson said, " The company's efforts in retaining the customer base have shown positive signs in contract churn which will translate into higher retained value going forward". 
revenue fell by 6% to  €1.719bn in the first quarter, this was an improvement from the revenue decline of 6.8% of the previous quarter.

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