Telecom Italia said that its group revenue declined 0.2% year-on-year on an organic basis to 7.07 billion euros in the first quarter of 2011, as a 7.4% decline in revenues in Italy was mostly offset by a 13.8% increase in revenues in Brazil and a 27.2% rise in revenues in its recently-acquired business in Argentina.
The Italian company said that smartphones accounted for 40% of its handset sales in Brazil compared with 16% in the first quarter of 2010. source: Telecom Italia presentation
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