The best anecdote to represent the turnaround in the woes of this sector is the one involving the Du...
The best anecdote to represent the turnaround in the woes of this sector is the one involving the Duke of Edinburgh's Award.
Research financed by the DoE awards organisation has concluded that the use of mobile phones among teenagers has resulted in a reduction in smoking, as the users' hands are occupied with text messaging rather than holding a cigarette.
The cost of texting is also emptying the pockets of said users, meaning less money to buy cigarettes in the first place.
The controversial conclusion is that mobile phones may help cut cancer rates from smoking - but what better advertising could the mobile phone companies hope for.
It also marks a considerable foil to other charges that the phones and associated transmission towers may be causing cancers of all sorts.
Less debatable is the performance of the FTSE 350 telecommunications services index, which went from a low of 1,698 points on 25 September to 2,505 points by 22 November.
The index's constituents in order of weighting are: Vodafone, BT Group, MmO2, Cable & Wireless, Colt Telecom, and Kingston Communication.
Yet even this performance is eclipsed by smaller companies such as Intec Telecom Systems, which went from a low of 9.5p in early October to 22p by 2 December.
There are those who warn the resurgence has gone too far, and that a doubling of share prices does not reflect a doubling in earnings potential.
But the counter-argument is just as strong, ie. share prices went too far south considering the solid earnings - as represented by ARPU figures - that companies have been reporting throughout the downturn.
ARPU, or average revenue per use, is the key yardstick by which mobile phone companies are compared, and with new multimedia messaging services coming on stream it is expected to take another step up over the coming year.
New roaming agreements are also coming into play, for example between BT and Swedish counterpart Telia, which will allow use of high-speed wireless services from laptops at key locations such as airports.
Schroders has just published a note in which it says problems encountered by the sector over the past two years has helped focus management teams on the bottom line and come up with ways to cut debt.
The asset manager says now is the time to look at undervalued telcos that have put in place recovery plans.
A quick look at Europe's two biggest telecoms players Deutsche Telekom and France Telecom shows they are still struggling under huge debt loads worth more than €100bn.
However, there is also a feeling that they have been through the worst the market can throw at them and may find a way out without having to cut and run as BT did last year.
BT floated off its Cellnet business, which became MmO2, and sold off property and other assets to cut its debt.
Deutsche Telekom has just announced a deal to sell more shares in its T-Online internet service provider business, raising cash yet leaving it in control with a 51%+ share.
The French government is yet to make up its mind about selling off more of France Telecom, particularly as it has just decided to pump more money into the former state utility.
The situation is slightly better for retail investors who got fleeced on their Deutsche shares bought in early 2000 - traded in the UK as CREST Depository Interests - and they may want to reconsider a new punt.
Both the French and German economies are barely ticking over, but a revival over the next 12 months would bring a rise in demand for business telecoms services, which would benefit both encumbent telcos.
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