And while some mobile phone companies continue to do pretty well, others such as Vodafone, are dealing with struggles of their own.
Vodafone’s trading statement today is also the first round of chief executive Arun Sarin’s fight to save his job. It shows that most blunt of financial measures – a company’s pure stock market value.
Vodafone was Britain’s biggest company by £100bn after it printed a tonne of shares to pay for Mannesmann of Germany in 2000. It is has since been steadily overtaken by BP, HSBC and, at the end of last year, GlaxoSmithKline. Shell is also bigger, but it is not shown because of having two classes of share. [Read the rest]