PARIS: French telecom and Internet company Iliad's sales soared by nearly 40 percent in the first quarter, the company said Wednesday, boosted by the success of its mobile operator Free.
The company said sales hit 907 million euros ($1.17 bn) in the first quarter, with nearly a third (294.5 million) from mobile services launched in January 2012.
The entry of Free with low cost offers has shaken up the French mobile market, hitting sales of competitors Orange/France Telecom by 5.9 percent, SFR by 11.4 percent and Bouygues Telecom by 16 percent.
Telecom prices are down by 16 percent, according to data published by the French statistics agency Insee, with operators earning less revenue per client.
During the first quarter of this year Free attracted 870,000 new mobile clients, taking its total to 6.1 at the end of March, for nearly 10 percent of the market.
Finance director Maxime Lombardini said the company had a "good commercial performance" in the first quarter, and confirmed that the company aims to generate annual sales in excess of 4.0 billion euros by 2015.
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