Virgin Mobile attracts 2 million customers in record time

• Total customers 2,013,382 (30th September 2002)


• 232,300 net connections in Q3 2002 (36% up on 171,367 in Q2 2002)


• Customer numbers up 70% year on year


• Turnover to exceed £1/4 billion in 2002

Virgin Mobile has broken UK sales records to reach 2 million customers in under 3 years, and today announces strong third quarter results. The landmark achievement has confirmed its position as the world’s most successful MVNO, and fastest-growing network in Europe. Virgin Mobile acquired 232,300 net new customers during July, August and September of 2002, up 36% on the previous quarter, and increasing its customer numbers by over 70% year on year.

By comparison, it took more than 4 years for Orange to hit 2 million customers, T-Mobile in excess of 5 years, and O2 and Vodafone well over a decade to grow to the same size Virgin Mobile is today – at just 2 years and 10 months old.

Virgin Mobile

Launch date		November 1999
Reached 2 million by		September 2002
Time taken		34 months

Orange

Launch date		April 1994
Reached 2 million by		December 1998
Time taken		56 months

T-Mobile

Launch date		September 1993
Reached 2 million by		January 1999
Time taken		64 months

Vodafone

Launch date		January 1985
Reached 2 million by		June 1995
Time taken		125 months

O²

Launch date		January 1985
Reached 2 million by		August 1995
Time taken		127 months

Virgin Mobile is expected to attract 2.25 million customers by the end of the year, with revenues reaching in excess of £1/4 billion.

Virgin Mobile’s Sir Richard Branson said: “The astonishing fact about Virgin Mobile reaching 2 million customers is not that we achieved this figure, but that we did so in record time. It proves Virgin Mobile is hugely popular with the British phone-buying public.

“Our success is set against a turbulent mobile marketplace. Since our launch in November 1999, billions of pounds have been wiped off the value of our competitors, and many established names in telecoms have collapsed.

“Instead, Virgin Mobile has thrived and prospered, thanks to the dedication of its staff and its great value services. We have invested £200 million efficiently and have acquired two million profitable customers – I defy any other mobile network to beat that achievement!”

Virgin Mobile - Customer Numbers	Q3 '01	Q4 '01	Q1 '02	Q2 '02	Q3 '02
Net Additions	172,089	264,359	164,223	171,367	232,300
Cust Base (m)	1.181	1.445	1.610	1.781	2.013
% Est Mkt Share	2.70%	3.22%	3.48%	3.80%	4.25%
Net Connections Quarterly Grth	19.72%	53.62%	(37.88%)	4.35%	35.56%
Customer Base Quarterly Growth	17.05%	22.38%	11.36%	10.65%	13.04%
Customer Base Yearly Growth	181.22%	114.17%	86.03%	76.51%	70.46%
Virgin Mobile - Financials
Turnover per Quarter (m)	£46.8	£57.0	£57.9	£65.8	£75.4(est)
Turnover Quarterly Growth		21.9%	1.7%	13.4%	14.6%