Telenor Myanmar claimed 6.4 million subscribers at the end of March, nearly double its results three months earlier, its Norwegian parent company said yesterday.
The firm has seen a steady increase in users since launching in October 2014, with nearly 60 percent of its subscribers actively using data, its first quarter 2015 report said.
“In the coming quarters, we plan to ramp up network investments to cater for the strong demand for digital services in this connectivity-hungry nation,” Telenor Group president and CEO Jon Fredrik Baksaas said in a statement.
“While we are encouraged by the promising start in Myanmar, it has to be noted that it is still early days.”
The firm’s local revenues came in at US$102 million, while it generated $4 billion across its international operations. Telenor pointed to a number of factors contributing growth, including positive currency effects and a significant contribution from Myanmar, as assisting its international bottom line.
Telenor’s Myanmar operations contributed about 2.5pc of total earnings, while accounting for 10pc of capital expenditures. Telenor and its rivals Ooredoo and MPT are conducting large-scale network expansions at present.
Earlier in the week, Ooredoo announced it had 3.3 million Myanmar subscribers as of the end of March.
Telenor said market demand has topped its expectations, and it plans to boost network investments this year.
Over the course of the latest quarter, Telenor turned on 718 sites, bringing total live sites to 1772. As of the end of March, more than half of Myanmar’s townships have Telenor service.
Capital expenditures for Telenor Myanmar at NOK 442 million (US$59 million) trailed combined European and Asian operations as well as Norway and Thailand’s dtac.
Telenor Myanmar also made a licence payment of $120 million this past quarter.
Source: Myanmar Times