ECONOMY

Investment and turnover down in cell phone sector

The declining course of the mobile telephony sector in Greece continued last year, confirmed in a study conducted by the Athens University of Economics and Business with ICAP and publicized on Friday that showed an 18 percent drop in turnover to 3.57 billion euros.

The Association of Mobile Telephony Companies attributed the decline to the absence of a friendly investment environment, the inadequate institutional framework and the state?s inability to apply it.

The study shows a 27 percent decrease in investment in the sector compared with 2009.

This year is expected to be the first when planned investment in wireless broadband Internet connections will be close to zero.