24.1. Fair value measurements

For the financial instruments measured subsequent to their initial recognition at fair value, the Group classifies fair value measurements using the following fair value hierarchy that reflects the significance of the inputs used in making the measurements:

• Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities,
• Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices),
• Level 3: inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs).

The Group’s financial assets and liabilities that are measured subsequent to their initial recognition at fair value comprise derivative instruments presented in Note 23 and selected trade receivables arising from sales of mobile handsets in instalments described in Note 14.1. The Group classifies these financial assets and liabilities to Level 2 fair value measurements.