The telecommunications sector has been the least affected by the financial crisis, Telefonica SA's (TEF) chief operating officer, Julio Linares said Monday.

"If you look at the number of calling minutes consumed this year compared to last... (the telecommunications) sector is the least affected by the financial crisis," Linares said.

He said fixed-line telephony, especially broadband, is as much a necessity as food for users who are hesitant to switch off their connection, even amid a deteriorating financial situation.

"The financial crisis isn't putting the brakes on the digital revolution."

Telefonica, Spain's largest telecommunications company by subscribers and market capitalization, said last month its second-quarter net profit fell 6.1% to EUR1.93 billion as its mature European markets slowed amid recession in Spain.

Company Web site: www.telefonica.com

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