Vodafone sees massive revenue dip

WEAKNESS in the economies of Spain and South Africa is being blamed for a big quarterly drop in Vodafone revenue.

The world’s second-biggest mobile phone operator has reported that the two countries offset a stable market elsewhere in Europe, leading to a 4.2% fall in revenue.

Vodafone is currently stepping up spending to create a new, faster 4G network due to an increased demand for data.