An interest study just emerged confirming what most Canadians already know: their big three carriers are the most profitable in the developed world. According to Bank of America Merrill Lynch, Rogers, Telus and Bell combined for an average of 46.7% profit in the first quarter of this year. Compare that with the UK carriers of 22.6%, which is because of a strong competitive market. Canadians also paid $54.73 US/month on average, also the highest in the developed world.

Hate to say it, but us Canadians know this without even reading the report. Cell phone cost of ownership, especially with three-year contracts for data and voice, is extremely high. Rogers has often justified their high costs by claiming that to roll out a large-scale 3G network to a country the size of Russia and a population half that of Italy is extremely costly. But how costly, exactly? Consumers in Greece only pay an average of $19.87.

Other interesting stats:

  • Canada’s penetration rate is only 69%
  • Canada still has the highest rate of landline phone use in the world
  • Canadians are the third most talky nation with the average person talking 368 minutes per month
  • Korea is second with 374 and the US leads with 814(!!) talk minutes every month

(via CBC News)