Deutsche Telekom announces falling revenues

NEWS Deutsche Telekom's (DT) revenues fell slightly in its last financial quarter, but the telco claims it has held onto its position in the market despite increasingly intense competition. DT lost significant ground last year, but believes its business has now stabilised. The decrease in revenue in the fixed network - around four per cent - was caused by what the company called "massive price cuts", but was mostly offset by increased income in other business areas, such as ISDN, T-Online and mobile comms. In the last 18 months, headcount has fallen by 4,400, shaving 12 per cent off DT's personnel costs. Net revenue fell from E17.5bn (£11.5bn) to E16.8bn (£11.1bn). Net income fell from E996m (£660m) for the same period last year to E951m (£630m). DT chairman, Dr Ron Sommer, said the company plans further acquisitions and mergers in the future, following on from its purchase of One2One earlier this month.