Ambitious ethnic market MVNO Lycamobile, running off the Orange network in the UK, has hit its first-year target of 1.2 million prepay customers.
Lycamobile, which launched last September, said it has hit target on time, just as bigger network operations struggle to win new business profitably.
It pointed to recent results from Vodafone, Orange and T-Mobile, which reported losses of, respectively, 159,000 customers in Q2 and of 145,000 and 100,000 in Q1.
Lycamobile chairman Subaskaran Allirajah said:”We set out to achieve the target of activating over 1.2 million UK customers in our first year and we have achieved that. The growth is a testament to the brand promise we set of low rates and great quality. I would like to thank our customers and partners.”
Lycamobile chief executive Milind Kangle (pictured) said: “In these uncertain economic times, consumers are looking for flexible products without longterm financial commitments. Our ultra low-price, high-quality services fits perfectly.”
Lycamobile operates in the UK, Scandanavia, the Netherlands, Belgium, Switzerland and Italy.