Everything Everywhere, the mobile network forged via Orange and T-Mobile to launch 4G mobile internet in the UK, has posted some disappointing financial results which has seen turnover and revenues drop despite having a controversial monopoly of the UK's 4G market. The company's pre-tax losses rose from £113m in 2011 to £249m for 2012, with annual turnover down 1.7 per cent to £6.6bn.

 According to the Financial Times:

"EE, jointly owned by France Telecom and Deutsche Telekom, reported a 7 per cent decline in earnings before interest, tax, depreciation and amortisation to £1.1bn.
"The decline was most pronounced in the final three months of 2012, a quarter when EE launched Britain’s first superfast 4G mobile broadband service, with turnover down 2.8 per cent at £1.7bn."

Everything Everywhere CEO Olaf Swantee said: 'In the past year, we delivered solid financial performance, underpinned by good progress integrating the business and success in attracting high value customers. At the same time, we built a strong platform for growth, launching a new company, new network, new customer brand, new retail estate and being the first to provide UK consumers and businesses with 4G mobile services alongside fibre broadband.'

Alongside the governments stringer policies towards data roaming, alongside multi-million pound rebranding and marketing efforts - fronted by actor Kevin Bacon - EE has seen a small-term loss for what they perceive as a long-term gain: market consolidation (contract customers increased by 752,000) and the overcoming of initial teething troubles ahead of their rivals 02, Three and Vodafone summer launch of 4G.