"BT Group is reportedly weighing plans to launch a new low-cost mobile brand as part of a potential strategy to compete with a wave of new market entrants - including fintech heavyweights Revolut and Monzo, both preparing to debut mobile services. According to the Financial Times, the UK's largest telecoms company is assessing whether to develop an in-house budget brand or acquire an existing virtual network operator (MVNO) as it explores opportunities to re-enter the value end of the mobile market."
"Fintech companies are among the latest entrants. Revolut and Monzo, which boast a combined user base of more than 13 million UK customers, are preparing to launch mobile plans as part of broader efforts to diversify revenue streams and strengthen customer loyalty through bundled financial and telecoms services. Buy-now-pay-later provider Klarna is also moving into mobile, alongside Fern Trading, part of the Octopus Group investment empire, which is building out telecoms assets across the UK."
BT Group is evaluating options to enter the low-cost end of the UK mobile market by launching an in-house budget brand or acquiring an existing MVNO. The company currently offers mobile services through its premium EE brand while Plusnet has been focused on broadband following a restructuring. MVNOs accounted for 16.5% of the UK mobile market in 2024 and are expected to grow as competition intensifies. Fintechs such as Revolut and Monzo, with over 13 million combined UK customers, along with Klarna and Fern Trading, are preparing mobile offers, prompting strategic response. CEO Allison Kirkby is driving the exploration to strengthen competitiveness and capture value-segment customers.
Read at Business Matters
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