Mobile customers have been leaving Vodafone in droves since competitors Telstra and Optus switched on their 4G networks in September 2011 and 2012 respectively.
Vodafone is Australia’s third largest telco. Its 4G network launch on Wednesday was a far quieter affair than those of its two larger peers. (Telstra brought in Rebecca Black for its launch.)
Although the mobile industry is expecting overall growth in subscriber numbers to slow, Goldman Sachs this week upgraded its market share assumptions for Telstra, expecting the incumbent to reach 48.2% of the market in 2013 and 48.8% in the next 2 years.
“We believe Telstra’s strong momentum has continued int 2H13 driven by its 4G leadership and continued benign competitive environment as a result of inward competitor strategies with Optus focusing on profitability and VHA focusing on network investment,” Goldman Sachs reported.
Goldman Sachs retained its neutral rating on Telstra, with shares trading near the upper end of historical ranges.
Telstra’s share price closed at $4.59 yesterday.
Business Insider Emails & Alerts
Site highlights each day to your inbox.