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Telenor to expand India operation in 2010
By siliconindia
Bangalore: Norwegian telecom group Telenor plans to expand its Indian operation with offering services nationwide this year. Currently, the company has operations in eight of India's 22 telecom zones, reports Reuters.
Sigve Brekke, Head of Telenor Group's Asian operations said, "We are very satisfied with our operations in India because we are going to launch faster and bigger than we thought." The company has even planned to bid for 3G licenses for some parts of India, since it would be very expensive to have a nationwide network.
Telenor has bought into an Indian telecom firm, Unitech Wireless, a unit of property developer Unitech, which started services in December under the Uninor brand. The company holds telecom licenses for all of India and is aiming for eight percent of the Indian mobile market by 2018.
In the first month of its launch only, Uninor managed to get 1.2 million subscribers. The company forecasts of breaking even at the EBITDA (earnings before interest, taxes, depreciation and amortization) level in three years and operational cash flow level in five years.
Excluding India, where growth will be very high, Telenor expected its operations in four countries in Asia to post average "mid-single-digit" revenue growth this year, led by strong growth in Bangladesh and Pakistan.
"Growth in India will be very high since it started from zero. For the four countries, Bangladesh and Pakistan will grow most, followed by Malaysia and Thailand," he said, adding a better economic outlook should boost growth.