Vodafone's latest financial results show that the value of its shares is at a five-year high while its proportion of UK mobile subscribers increased by seven per cent from 16.3 million last year to 17.4 million.
Refocusing its customer offer away from business and towards high street consumers by providing improved value for money on voice and data has helped the operator pick up more custom, claimed Moneysupermarket.com's head of mobile Rob Barnes.
At the same time, Vodafone has lost 33.8 per cent of customers to alternative suppliers over the year, proving that the UK mobile market is highly competitive and fluid, Mr Barnes added.
"Customers are increasingly swapping networks for better deals and handsets," he said.
But Vodafone's global chief executive Arun Sarin admitted he expected market conditions to "remain challenging for the year ahead in Europe".
Recent reports have claimed that the mobile phone market in western Europe is becoming saturated.
But the trend to switch providers in search of better handset and free-minute deals could subvert this pattern.
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