MADRID, Feb 28 (Reuters) - Telefonica saved 500million euros ($655.45 million) in 2012 by ending smartphonesubsidies for new customers, Telefonica Europe Chief ExecutiveEva Castillo said on a conference call on Thursday.
Telefonica was ahead of its peers on removing subsidies andhas vowed not to go back on the policy even after rival Vodafone reversed its decision to scrap subsidies in Spainfollowing heavy customer losses.