Europeans opt for contract over prepay

ITProPortal reveals.

According to the retail giant, the market fell by as much as 40%, owing to a variety of reasons that include a steady decline in consumer confidence. Another reason is the fact that network providers are reducing subsidies that they were prepared to pay earlier.

It said it reflected a reduction in subsidies from the networks and a lack of smartphones in the sector, in turn driving more customers to sign up for contracts to get their hands on the latest smartphones, Sky News says.

Carphone Warehouse is now planning a big push into other electronic gadgets, such as laptops and tablets, as it seeks to replace falling revenue from the prepay phone market.