10/2/2008 1:07:00 PM
Uncertainty forces industry to re-evaluate christmas
The deepening financial crisis is creating uncertainty over Christmas sales prospects and will lead to tighter spending by mobile companies, industry leaders warned this week.
Simon Ainslie, UK MD of Nokia, said: ‘We are entering new territory with the world situation. People really don’t know how things will unfold.
‘People are battening down the hatches. We are seeing a lot more caution in implementation. We are scrutinising investment very aggressively.’
He added: ‘Stock will be a challenge, no-one wants to carry a lot of stock with credit being scarce.’
Meanwhile, Rob Shardlow, sales director of Virgin Media, was more upbeat: ‘We are not seeing any revenue erosion. It appears consumers may not be prepared to limit their airtime consumption. They will probably push back planned upgrades.