Orange is going to have difficulty reaching its targets for 2002, according to parent company France Telecom. Orange deputy CEO Graham Howe says the group is unlikely to hit its target of a 15% growth in revenues for the current financial year.
The mobile market is reaching saturation, and this is being seen in the lower demand for mobile equipment and the shortfall in Orange’s targets. Despite this Orange has seen recurring network revenues grow by 15.4% year-on-year to reach E11.5 billion for the nine months to the end of September.
France Telecom announced the warning after reporting its Q3 results. The group has lowered it own overall forecast for full year revenue growth to 8-9%. In the past Orange has been a key driver of growth and was a major contributor to the groups 7.1% sales increase in Q3.