Telenet, a Belgian telecom operator, experienced a net loss of customers in the first quarter of the year. Specifically, they lost 800 mobile telephony customers and 6,000 for their fixed internet services. Despite efforts to improve sales through marketing campaigns, Telenet was unable to offset these losses.
The parent company, Liberty Global, reported that the higher customer churn rate was due to intense competition in the telecom market. This competition has made it difficult for Telenet to maintain its customer base. 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.” The company is adapting to the challenges in the market and remains focused on their long-term goals.
While facing competition and customer losses, Telenet continues to navigate the changing landscape of the telecom industry. By staying on schedule financially and adapting to market conditions, the company aims to remain competitive and meet its long-term goals.
