Phone Card

Phone Card Market Outlook

The global phone card market is projected to reach approximately USD XX billion by 2035, growing at a compound annual growth rate (CAGR) of XX% during the forecast period from 2025 to 2035. Several factors are contributing to this growth, such as the increasing demand for affordable communication solutions, the rise in international travel, and the need for seamless connectivity in various applications. Moreover, the surge in mobile penetration and the advent of new technologies like 5G are expected to bolster market growth significantly. Increased consumer preference for prepaid and disposable phone cards due to their convenience over traditional contracts is also propelling the market forward. Additionally, the proliferation of digital platforms and online services has made access to phone cards more convenient, further enhancing their appeal.

Growth Factor of the Market

The phone card market has seen significant growth driven by various factors. The increasing globalization of businesses has led to a higher demand for international communication, which prepaid and postpaid phone cards facilitate effectively. In addition, a growing number of international travelers prefer flexible payment options for their communication needs, favoring prepaid and disposable cards, thus driving market expansion. Another vital factor is technological advancements that enhance the features of phone cards, including virtual cards that can be managed from smartphones or other devices. Furthermore, the rise in e-commerce and online shopping has made it easier for consumers to purchase phone cards, amplified by targeted marketing strategies that attract different demographics. Lastly, the growing trend of remote work has ignited the need for reliable communication solutions, further boosting the demand for phone cards.

Key Highlights of the Market

• The global phone card market is expected to witness substantial growth from 2025 to 2035.
• Technological advancements, including the introduction of virtual phone cards, are changing consumer preferences.
• Prepaid phone cards dominate the market, making them the most popular choice among consumers.
• The online distribution channel is rapidly gaining traction due to its convenience and accessibility.
• The Asia Pacific region is likely to exhibit the highest growth rate during the forecast period.

By Type

Prepaid Phone Card:

Prepaid phone cards are the most popular type in the market, allowing users to pay in advance for phone services. These cards offer consumers flexibility and control over their spending, making them a preferred choice for many. The prepaid model is particularly appealing to individuals who do not want to commit to long-term contracts. Moreover, prepaid cards provide convenient options for international calling, catering to a diverse range of user needs, especially for travelers and expatriates. The simplicity of purchasing and using prepaid cards makes them a valuable tool for those who prioritize cost-effectiveness and convenience in their communication. With the growing influence of digital platforms, prepaid phone cards are increasingly available online, further enhancing their accessibility.

Postpaid Phone Card:

Postpaid phone cards are another significant segment of the market, allowing users to enjoy the convenience of communication without upfront payments. These cards require users to pay after utilizing the service, which appeals to those who prefer to manage their communication expenses post-usage. The postpaid model is often bundled with additional services such as data plans, making it an attractive option for users who need comprehensive communication solutions. Although not as widely adopted as prepaid cards, postpaid phone cards are gaining traction among consumers looking for advanced features and added benefits. The growth of digital platforms is also facilitating accessibility to postpaid options, thus expanding this segment's reach in the market.

Disposable Phone Card:

Disposable phone cards are designed for one-time use, providing a convenient option for users who require temporary communication solutions. These cards are often utilized for short-term needs, such as travel or emergency situations. The disposable aspect allows users to avoid long-term commitments and provides them with flexibility, making them suitable for infrequent travelers or those requiring a temporary communication solution. The growing preference for disposable cards can be attributed to their affordability and ease of use. As technology continues to evolve, disposable phone cards are becoming increasingly integrated with digital platforms, enabling users to purchase and use them more conveniently.

Rechargeable Phone Card:

Rechargeable phone cards provide users with the versatility of topping up their balance as needed. This flexibility is appealing for individuals who may want to manage their communication expenses without committing to a long-term plan. Rechargeable cards can often be used for both domestic and international calls, making them a favored choice among frequent travelers. The option to recharge means that users can adjust their spending based on their communication needs, making rechargeable cards particularly attractive in fluctuating markets. This segment is witnessing growth as consumers become more aware of their spending habits and seek to manage costs proactively through the ability to reload balances as necessary.

Virtual Phone Card:

Virtual phone cards are a modern innovation that caters to a tech-savvy audience. Unlike traditional phone cards, virtual cards are managed through mobile applications or websites, offering a seamless and efficient user experience. Users can purchase, top up, and utilize their virtual cards without the need for physical cards, making them an attractive option for those who are increasingly reliant on digital solutions. The rise of smartphone usage and internet penetration has facilitated the growth of virtual phone cards, enabling users to enjoy immediate access to communication services. As the trend toward digitalization continues, the segment of virtual phone cards is expected to expand significantly, appealing to younger generations and professionals who prioritize convenience and technology.

By Application

Domestic Use:

The application of phone cards for domestic use remains significant, as many consumers prefer cost-effective solutions for local communication. Domestic phone cards cater to individuals who frequently make calls within their country, offering attractive rates that help users save on their monthly communication expenses. The demand for domestic use is driven by the need for reliable communication tools in day-to-day life, such as for personal use, educational purposes, and casual business interactions. The simplicity of domestic cards encourages users to adopt these solutions, as they are easily obtainable and can be utilized without the complexities associated with contract-based plans. This segment is expected to grow steadily as consumer preferences continue to shift toward value-oriented communication options.

International Use:

International use of phone cards has gained significant traction, primarily due to the rise in global mobility and international travel. Users often rely on international phone cards for making cost-effective calls to family, friends, or business contacts abroad. The competitive pricing strategies offered by international phone cards make them an attractive option for users who need to communicate across borders without incurring exorbitant costs. As travel and globalization increase, the demand for international phone cards is expected to grow, driven by the necessity for seamless connectivity in personal and professional contexts. This segment is particularly appealing to expatriates, migrant workers, and frequent travelers who prioritize budget-friendly communication solutions.

Business Use:

Phone cards are increasingly being utilized for business purposes, offering companies a reliable solution for communication. Businesses often require effective communication with clients and partners, especially in today's globalized marketplace. Phone cards provide a cost-effective way to manage communication expenses, particularly for small and medium-sized enterprises (SMEs) that may not have extensive budgets for telecom services. The flexibility of phone cards allows businesses to allocate communication resources efficiently, making it easier to manage costs. As companies continue to seek ways to optimize their communication strategies, the business use segment of phone cards is anticipated to witness sustained growth, driven by a shift toward more adaptable and economical solutions.

Travel Use:

Travel use of phone cards has become increasingly popular as individuals seek reliable means of communication while on the go. Travel phone cards are designed specifically for travelers who require seamless connectivity during their trips. These cards often offer competitive rates for international calling and data usage, catering to the unique needs of travelers. With the rise of global tourism and business travel, the demand for travel-specific phone cards is expected to surge. Travelers appreciate the convenience these cards provide, allowing them to stay connected without incurring high roaming charges. As a result, the travel application segment is poised for growth, aligning with consumer trends toward flexible and budget-friendly communication solutions during travel.

Emergency Use:

Emergency use of phone cards represents a crucial application, as individuals often turn to these solutions for immediate communication needs. In unforeseen circumstances, such as natural disasters or urgent situations, having access to a phone card can be lifesaving. Emergency phone cards provide users with a reliable means to connect with emergency services, family, or friends when traditional communication networks may be compromised. The appeal of these cards lies in their simplicity and accessibility, making them an essential tool for individuals seeking security and peace of mind. As awareness grows regarding the importance of emergency communication preparedness, the demand for phone cards designated for emergency use is likely to expand.

By Distribution Channel

Retail Stores:

Retail stores remain a vital distribution channel for phone cards, providing consumers with immediate access to various options. These stores, including convenience shops and supermarkets, allow customers to purchase phone cards quickly and easily, catering to shoppers who prefer in-person transactions. The physical presence of retail locations also serves as a marketing tool, where promotional displays can attract consumers to purchase phone cards while shopping. The convenience of retail stores enables customers to acquire phone cards on-the-spot, enhancing their overall shopping experience. This channel is particularly beneficial for impulse buyers and those needing immediate communication solutions, contributing to the continuous growth of the retail segment in the phone card market.

Online Platforms:

Online platforms have emerged as a powerful distribution channel for phone cards, significantly altering consumer purchasing habits. The convenience of e-commerce allows users to browse through various options, compare prices, and make informed decisions without the limitations of physical store hours. Additionally, online platforms often provide exclusive deals and discounts that attract savvy consumers looking for cost-effective solutions. The rise of digital payment methods and mobile wallets has further facilitated online purchases, streamlining the buying process. As internet usage continues to grow globally, the online distribution channel for phone cards is expected to expand rapidly, appealing to younger generations who favor digital solutions for their communication needs.

Convenience Stores:

Convenience stores serve as a vital distribution channel for phone cards, catering to consumers seeking quick and easy access to communication solutions. These stores are strategically located in residential areas and travel hotspots, making it convenient for customers to purchase phone cards on-the-go. The accessibility of convenience stores allows individuals to buy phone cards as needed, particularly in emergency situations or during travel. As consumers prioritize convenience in their shopping experience, the demand for phone cards available in convenience stores is likely to remain strong, contributing to the growth of this distribution channel in the overall market.

Mobile Top-Up Outlets:

Mobile top-up outlets have become a significant distribution channel for phone cards, particularly in regions with high mobile penetration. These outlets allow customers to purchase phone cards or recharge existing accounts quickly, catering to the needs of users who may require immediate access to communication services. The focus on mobile top-ups aligns with the growing trend of on-demand services, appealing to consumers who prioritize convenience and speed. As mobile technology continues to evolve, the reliance on mobile top-up outlets for phone card distribution is expected to grow, further solidifying their role in the overall market.

By Network Type

GSM:

The GSM (Global System for Mobile Communications) network type continues to dominate the phone card market due to its widespread adoption and reliability. GSM technology is prevalent in many countries, providing users with a dependable platform for voice and data services. Phone cards designed for GSM networks cater to a broad audience, offering competitive rates for both domestic and international calling, making them a favored choice for users seeking cost-effective communication solutions. The familiarity and extensive coverage of GSM networks contribute to the sustained demand for GSM-compatible phone cards, positioning this segment for steady growth in the coming years.

CDMA:

CDMA (Code Division Multiple Access) is another important network type in the phone card market, though its adoption is more concentrated in specific regions. CDMA technology offers unique advantages, such as enhanced security and better voice quality, making it appealing to certain consumer segments. Phone cards that support CDMA networks cater primarily to users in regions where this technology is prevalent, providing them with reliable communication options. While the CDMA segment may not be as expansive as GSM, it remains essential for users who prioritize quality and security in their communication. The growth of CDMA-compatible phone cards is anticipated to persist, driven by consumer demand in specific markets.

LTE:

LTE (Long-Term Evolution) represents the evolution of mobile technology and is becoming increasingly integral to the phone card market. With its high-speed capabilities and low latency, LTE provides consumers with enhanced performance for data and voice services. Phone cards designed for LTE networks cater to users who prioritize speed and reliability, making them an attractive choice for both casual users and professionals. The shift toward LTE technology aligns with the growing demand for mobile data usage, further driving the adoption of LTE-compatible phone cards. As the transition to 5G technology unfolds, LTE cards may serve as a bridge for consumers seeking high-quality communication solutions.

5G:

The emergence of 5G technology is set to revolutionize the phone card market, offering unprecedented speeds and connectivity options. As 5G networks continue to roll out globally, phone cards designed for this technology are expected to gain traction among tech-savvy consumers and early adopters. The superior performance of 5G technology allows for enhanced communication experiences, including high-definition calling and fast data transfer rates. Users are likely to gravitate toward 5G-compatible phone cards as they seek to fully leverage the benefits of this new technology. The 5G segment is anticipated to witness rapid growth, reflecting the broader trend of digital transformation and the increasing connectivity demands of consumers.

By Region

The phone card market is witnessing diverse regional trends, significantly influenced by technological adoption, consumer preferences, and communication needs. North America is currently one of the leading regions for phone card usage, driven by high mobile penetration and a growing preference for flexible communication solutions. The market in North America is projected to grow at a CAGR of XX% during the forecast period, supported by the increasing reliance on mobile services for personal and business communication. Meanwhile, Europe also holds a substantial share of the phone card market, characterized by a mix of prepaid and postpaid solutions. The demand for phone cards in Europe is bolstered by the high volume of international travel, as well as evolving consumer preferences for cost-effective communication options.

In Asia Pacific, the phone card market is expected to witness the highest growth rate due to the rapid expansion of mobile networks and increasing smartphone adoption. The region's young population and growing demand for affordable communication solutions contribute to this upward trend. Additionally, Latin America and the Middle East & Africa are gradually emerging as significant markets for phone cards, propelled by increasing connectivity needs and the growing importance of international communication among various demographic groups. As these regions continue to evolve technologically, the demand for phone cards tailored to local communication needs is set to grow, ensuring a diverse and competitive global landscape.

Opportunities

The phone card market presents numerous opportunities for innovation and growth. One of the most significant opportunities lies in the development of digital and virtual phone cards, which cater to the increasing reliance on technology and online services. As consumers become more accustomed to digital solutions, companies can capitalize on this trend by creating user-friendly platforms that offer seamless purchasing and management of phone cards. Additionally, expanding marketing efforts targeted at specific demographics, such as travelers and expatriates, can help businesses tap into niche markets that require tailored communication solutions. Moreover, collaboration with telecom providers to offer bundled services could enhance the appeal of phone cards, making them more attractive to potential users. As the demand for flexible communication solutions continues to rise, companies can explore innovative pricing models and subscription services to cater to diverse consumer needs.

Furthermore, as global connectivity continues to grow, emerging markets in regions such as Asia Pacific, Latin America, and Africa present vast opportunities for expansion. Companies can focus on establishing strategic partnerships with local telecom operators to enhance distribution channels and make phone cards more accessible to underserved populations. By understanding the unique needs of consumers in these regions, businesses can develop tailored products that resonate with local preferences. Additionally, leveraging social media and digital marketing strategies can help raise awareness about the benefits of phone cards, driving demand among new customers. As the market evolves, staying attuned to technological advancements and consumer trends will provide companies with the insight needed to seize opportunities and establish a strong foothold in the competitive phone card landscape.

Threats

While the phone card market is poised for growth, it also faces various threats that could hinder its development. One major threat is the increasing reliance on mobile applications and VoIP services for communication, which may detract from the demand for traditional phone cards. As consumers embrace alternative digital solutions, the market for traditional phone cards could experience stagnation or decline, necessitating adaptation by companies involved in this sector. Additionally, intense competition among service providers could lead to price wars, which might erode profit margins and deter new entrants from entering the market. Companies must strategically position themselves to differentiate their offerings, emphasizing unique features or superior customer service to combat these threats.

Another significant threat to the phone card market is regulatory changes and compliance issues impacting telecommunications services. As governments around the world introduce new regulations and policies, companies may face challenges in adhering to these changes, potentially increasing operational costs and limiting market opportunities. Furthermore, economic fluctuations and geopolitical tensions can influence consumer spending habits, leading to reduced demand for phone cards, particularly in regions with unstable economic conditions. Businesses must remain vigilant and adaptable to navigate these challenges, ensuring they are well-prepared to respond to shifting market dynamics in the evolving phone card landscape.

Competitor Outlook

• AT&T Inc.
• Verizon Communications Inc.
• Vodafone Group Plc
• China Mobile Ltd.
• American Tower Corporation
• NTT Docomo Inc.
• T-Mobile US, Inc.
• Bharti Airtel Limited
• Sprint Corporation
• Telstra Corporation Limited
• China Telecom Corporation Limited
• SoftBank Group Corp.
• Orange S.A.
• Deutsche Telekom AG
• Telefónica S.A.

The competitive landscape of the phone card market is characterized by a mix of established telecommunications companies, specialized service providers, and innovative startups. Major players in this industry, such as AT&T, Verizon, and Vodafone, have a strong foothold due to their expansive network coverage and diverse product offerings. These companies leverage their existing customer bases to promote phone cards as part of bundled services and competitive pricing strategies. Additionally, the presence of regional players enhances competition, driving innovation and customer-centric approaches in product development and marketing strategies. As the market evolves, companies are increasingly focusing on differentiating themselves through unique value propositions, such as enhanced features, customer service, and flexible pricing models.

Key companies in the phone card market are also exploring partnerships and collaborations to expand their reach and enhance their offerings. For example, firms like T-Mobile and Sprint are leveraging their established networks to provide tailored solutions for domestic and international communication. In contrast, emerging players capitalize on the growing preference for digital solutions, offering virtual phone cards and user-friendly mobile applications. This competitive environment calls for ongoing investments in research and development, as companies aim to stay ahead of market trends and consumer demands. By embracing innovation and adapting to changing technologies, firms can position themselves for long-term success in the rapidly evolving phone card landscape.

Among the notable companies in the phone card market is China Mobile, which holds a significant market share due to its extensive subscriber base and robust infrastructure. The company offers a range of phone card options tailored to meet diverse communication needs, including prepaid and postpaid services. Additionally, Vodafone Group has established itself as a leading provider of phone cards, leveraging its global presence to cater to international travelers and businesses. With a commitment to enhancing customer experience and expanding service offerings, these companies are well-positioned to capitalize on the growing demand for reliable communication solutions. As competition intensifies, the focus on technology-driven innovations and customer-centric strategies will be key determinants of success in the phone card market.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 AT&T Inc.
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Orange S.A.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 NTT Docomo Inc.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 China Mobile Ltd.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 T-Mobile US, Inc.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Sprint Corporation
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Vodafone Group Plc
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Deutsche Telekom AG
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 SoftBank Group Corp.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Bharti Airtel Limited
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Telefónica S.A.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 American Tower Corporation
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Telstra Corporation Limited
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Verizon Communications Inc.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 China Telecom Corporation Limited
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Phone Card Market, By Type
    • 6.1.1 Prepaid Phone Card
    • 6.1.2 Postpaid Phone Card
    • 6.1.3 Disposable Phone Card
    • 6.1.4 Rechargeable Phone Card
    • 6.1.5 Virtual Phone Card
  • 6.2 Phone Card Market, By Application
    • 6.2.1 Domestic Use
    • 6.2.2 International Use
    • 6.2.3 Business Use
    • 6.2.4 Travel Use
    • 6.2.5 Emergency Use
  • 6.3 Phone Card Market, By Distribution Channel
    • 6.3.1 Retail Stores
    • 6.3.2 Online Platforms
    • 6.3.3 Convenience Stores
    • 6.3.4 Mobile Top-Up Outlets

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Phone Card Market by Region
  • 10.3 Asia Pacific - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 India
      • 10.3.1.2 China
      • 10.3.1.3 Japan
      • 10.3.1.4 South Korea
  • 10.4 Latin America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 Brazil
      • 10.4.1.2 Argentina
      • 10.4.1.3 Mexico
  • 10.5 North America - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 USA
      • 10.5.1.2 Canada
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Phone Card market is categorized based on

By Type

• Prepaid Phone Card
• Postpaid Phone Card
• Disposable Phone Card
• Rechargeable Phone Card
• Virtual Phone Card

By Application

• Domestic Use
• International Use
• Business Use
• Travel Use
• Emergency Use

By Distribution Channel

• Retail Stores
• Online Platforms
• Convenience Stores
• Mobile Top-Up Outlets

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• AT&T Inc.
• Verizon Communications Inc.
• Vodafone Group Plc
• China Mobile Ltd.
• American Tower Corporation
• NTT Docomo Inc.
• T-Mobile US, Inc.
• Bharti Airtel Limited
• Sprint Corporation
• Telstra Corporation Limited
• China Telecom Corporation Limited
• SoftBank Group Corp.
• Orange S.A.
• Deutsche Telekom AG
• Telefónica S.A.