Rogerio Jelmayer – The Wall Street Journal, 01/13/2016
Brazil’s mobile-phone market suffered a sixth monthly decline in subscriptions in November, as the country’s deep economic recession damaged consumer confidence and affected the sale of new phones.
The number of active mobile-phone users in Brazil dropped by 4.2 million in November to a monthly total of 269.59 million, compared with 273.79 million in October, government agency Anatel said.
The country’s mobile-phone market was once a hot industry marked by double-digit expansion. A combination of poor economic activity, high inflation and interest rates, however, is discouraging buyers, according to economists. After a projected contraction of 3.7% last year, Brazil’s economy is expected to contract 3% this year, according to economists.