The Norwegian Telenor Group has presented its updated plans for the company's operations in India, and says the aim is to capture growth in one of the world’s largest mobile markets.
Telenor Group executives, including CEO Jon Fredrik Baksaas (photo) and India Managing Director Sigve Brekke, say that Telenor
- Aims to be best in mass market distribution, best in servicing basic, best in low cost operations
- Confirms operating cash flow breakeven end of 2013
- Committed to INR 155 billion peak funding
- Targets above 25% equity return on new money invested in India
“The decision by India’s Supreme Court in February to revoke all our licenses took the entire industry by surprise and we were faced with an intense period of uncertainty for the next 10 months,’’ said Jon Fredrik Baksaas, Telenor Group Chief Executive Officer and President. “An extraordinary turnaround operation followed and very early on we left no doubt about our intentions to stay and secure our future operations in India. Telenor has a growth strategy and we consider India to be one of the world’s biggest growth markets for many years to come.”
He said the Indian operations already enjoy decent market positions in terms of subscriber and revenue market share in all six circles and plan to further improve this in the coming years by taking a number 2-3 position in the clusters where we are present. Telenor’s cost per minute in India is already below incumbents’.
Telenor has the potential to reach every second person in India, after securing its license to operate in six telecom circles. These circles are home to more than 600 million people. The circles are among the most populous regions in the country and strong economic growth is expected to continue. The footprint also has the lowest mobile penetration in India; with real penetration estimated to around 40% at the end of 2012. This represents a significant growth opportunity in terms of acquiring new subscribers and there is significant room for growth in basic voice services.
Telenor announced last month that Uttar Pradesh East became its first circle to achieve break-even, three years after the launch. The company expects its remaining circles to begin achieving the break-even targets in the months to come and Gujarat and Maharashtra are expected to break even in early 2013.
(NRK/Press release)
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