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Telefonica Opens Madrid Flagship Store to Boost iPhone Sales

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MADRID (Dow Jones) Telefonica is putting the finishing touches on a 3,000 meter flagship store in downtown Madrid as the company looks to capitalize on its exclusive launch in Spain of Apple'sĀ new third generation iPhone Friday.

The store is located on two floors of the company's former headquarters on Gran Via, 28 in a 1920's-era building originally designed to emulate a New York City skyscraper.

The ground floor showcases Telefonica's mobile and fixed line phones while the upper floor includes displays of prototypes and telecommunications packages for businesses.

A Telefonica spokesman said the company has received more than 200,000 petitions in Spain on its website for information related to the third generation iPhone.

Third generation, or 3G, refers to cell phones that are compatible with some of the world's fastest wireless Internet networks.

Telefonica, Spain's largest telecommunications company, already sells the original version of the iPhone in the U.K. and Ireland.

Besides Spain, Telefonica will begin selling the 3G iPhone Friday in the Czech Republic and twelve Latin American countries.

Analysts say the popular handset will help Telefonica boost cellular revenue as the company faces a potential slowdown in consumer spending in its home Spanish market.

-By Jason Sinclair, Dow Jones Newswires, 34 913958127, jason.sinclair@dowjones.com

(END) Dow Jones Newswires

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Tags: telefonica  madrid  displays  new york  Spain