Vodafone wasn’t quite ready for the information overload that the smartphone revolution brought to consumers. In late 2010, it got a slew of complaints and it lost a half million folks by the end of 2011 because of it, according to the Sydney Morning Herald.

That let them with seven million consumers, a number that Vodaphone would clearly like to increase. So it has decided to pull some of its money out of marketing and throw it back into building a better network and creating better customer service.

Vodafone is not re-upping its 11-year sponsorship of the Australian cricket team and also ending its six-year relationship with V8 Supercars. Cricket Australia and Triple 8 Racing Engineering are seeking sponsors as a result of the telco's decision.

The company is also saving money following a decision by Telfonica and Vodafone “to extend their existing network sharing deal to create one single national grid,” according to Telecoms.com. This could help save “at least 25 percent of their network costs,” the site notes.

“Over the three years from now until 2015 when both parties expect to achieve 98 per cent indoor population coverage across 2G and 3G, the combined potential savings would be in excess of £600 million ($926 million),” analyst Emeka Obiodu commented.

Vodafone, which is also battling to turn around its reputation, also just signed a deal with Optus to form a mobile broadband joint venture in Australia.

Bank of America is pushed by regulators on contingency plans, as more than a dozen suits against big US banks are expected to be filed in the coming days over bad mortgages.

AstraZeneca fails to beat Pfizer in match of anti-cholesterol drugs Crestor and Lipitor.

BP raid in Russia is suspended.

Baidu, China Mobile and ICBC rank among top brands in China, survey says.

Campbell's profit takes a hit on declining US soup sales.

China Telecom plans UK mobile service before London 2012 Olympics.Continue reading...

The Republican Party won big in Tuesday’s elections, capturing a majority in the U.S. House of Representatives, neutralizing the Democratic Party in the U.S. Senate, seizing a handful of key governorships and state legislatures across the country and marking the ascendancy of the Tea Party. Among other industries, the shift has big implications for the branding and marketing community. 

AOL revenue drops 26% on slumping ad sales.

Apple's iPad dominated 95% of the market for tablet computers last quarter.

Bugatti launches Veyron model in India, priced at $3.6 million.

Chase partners with DreamWorks for Megamind 3D movie.

Discovery Communications notches huge gains in ad sales.Continue reading...