Synopsis Vodafone NZ is the countries largest mobile network operator providing voice, data and value-added mobile services. It commands more than 50% of the mobile market. The company also provides fixed-line voice and data services following its acquisition of ISP, ihug. Vodafone NZ operates a 3G HSPA network and a 2G network both with 97% coverage population coverage. The firm is also pursuing a wholesale strategy to support mobile virtual network operators as well as to provide wholesale fixed-line voice and broadband products via local loop unbundling. In mid-2009 Vodafone signed an MVNO agreement to provide 3G services to TelstraClear on a wholesale basis. Vodafone also has a roaming agreement with the new mobile entrant 2degrees, in the NZ market. In this report we provide an overview of the financial and operations of the company. We also provide analysis of Vodafone’s market strategy in relation to the competition from the recently arrived XT 3G mobile and 2degrees networks and the possible benefits to Vodafone from the Ultra-Fast Broadband Network.