Opex: a bubble, not a squeeze
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We recently released operating expenditure (opex) data onto the GSMA Intelligence site, using a simple definition: revenue - EBITDA. Our first analysis of this looks into top-level numbers for economies of scale and evidence of operators starting an opex squeeze. Overall opex as a share of the business is generally not falling. This is because of investment in 3G and optimism about revenue growth. However, operators could do more to publicise the gains they are making and the future benefits of 3G networks.
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