Telenet, a Belgian telecom operator, faced challenges in the first quarter of the year, losing 800 mobile telephony customers and 6,000 for their fixed internet services. Despite marketing campaigns aimed at improving sales, the company was unable to offset these losses. However, financially, Telenet remains on track to meet its annual expectations.
In February, the company announced that they anticipate lower profits in 2024 due to it being an “investment year.” Despite facing competition and customer losses, Telenet is adapting to the changing landscape of the telecom industry by staying on schedule financially and focusing on long-term goals. The higher customer churn rate was due to intense competition in the telecom market.
Telenet’s parent company, Liberty Global, reported that efforts to improve sales through marketing campaigns were unsuccessful in offsetting the losses. However, despite these setbacks, Telenet is determined to remain competitive and meet its long-term goals.