EC report bullish on Euro telecom market

A report issued Monday by the European Commission declared that the continent's telecom market is booming for both companies and consumers.

Telecom operators are investing in new technologies that both cut their overhead and attract new customers who are eagerly signing up for new services.

"Growing competition, especially in retail markets, is bringing increased consumer benefits and the outlook for innovation and investment within member states and across borders is positive," the EC said in a news release accompanying the report.

The report found that mobile and broadband take-up remained brisk, although signs the market was maturing were being seen. At the same time, fixed-line markets continue to get most of their revenue from traditional telephone subscriptions.

The EC said the current situation is a positive reflection on the regulatory reforms launched in 2002.

Copyright 2006 by United Press International