Telenet, a Belgian telecom operator, experienced a loss of more customers in the first three months of the year than it gained, according to the quarterly results of Liberty Global, its parent company. Specifically, Telenet lost a net of 800 mobile telephony customers and 6,000 fixed internet customers. This decline in customers is attributed to intense competition in the market, leading to a higher churn rate.
Despite the loss of customers, Telenet remains financially stable and is on track to meet its annual expectations. The company had previously announced that it anticipates lower profits in the “investment year” of 2024. Despite efforts to improve sales through marketing campaigns, the competition in the telecom sector has proven challenging for Telenet.
In conclusion, Telenet’s customer churn rate remains high, and the company continues to face stiff competition in the market. However, financially, the company is still meeting its annual expectations, despite the loss of customers in the first quarter of the year. The telecom industry is subject to rapid changes, and Telenet will need to continue to adapt to stay competitive in the market.