In the first three months of 2024, Telenet, a Belgian telecom operator, experienced a net loss of customers. Specifically, the company lost 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.
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. Despite this setback, Telenet continues to focus on improving customer satisfaction and retention through better service and innovation.
