Word: celling
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...design mix is a good metaphor for Telenor's successful business strategy. At its core, the firm is undeniably Norwegian. It's the leading fixed-line and cell-phone operator in the country where it started more than 150 years ago; the government is still the largest shareholder. But Telenor's influence extends well beyond the borders of Norway, a country of less than 5 million people. It's a big player in the telecom markets in Sweden and Denmark, and has quietly built up cell-phone operations in five Central and East European countries. More surprising, though, Telenor...
Drawn by the potential for rapid growth in some of Asia's younger cell-phone markets, Telenor has been expanding in the region for more than a decade. The company now has 50 million subscribers in Asia, 17 times its number in Norway. The area now accounts for some 30% of Telenor's $17 billion in annual revenues, and will generate 36% in a couple of years, according to estimates by investment bank Dresdner Kleinwort. Asia, says Arild Nysaether, telecoms analyst at investment bank Fondsfinans in Oslo, is simply "the most important part of Telenor." And it's a point...
Asia's less developed cell-phone markets soon became targets. The company launched into Bangladesh's fledgling sector in 1997 convinced, says Jon Fredrik Baksaas, Telenor's CEO, that "mobile communications are as important in this kind of society as in Scandinavia." Once Grameenphone, its business in Bangladesh, was up and running, Telenor sought fresh openings in markets offering rapid growth, and gradually accrued controlling stakes in local Thai and Malaysian operators. When Pakistan invited bids for a license to operate from 2005, Telenor jumped at the chance...
...recent note. Since Telenor took control of Malaysian operator DiGi in 2001, for example, that business has expanded "from a small, niche player to one of the driving forces in the market," says Espen Torgersen, telecoms analyst at Carnegie, a Nordic investment bank. Now the third largest cell-phone operator in Malaysia, DiGi's operating profits grew by a third last year to $454 million; subscriber numbers rose by a fifth to 6.4 million...
...prospects appear even brighter. Subscriber numbers at Grameenphone swelled by 53% last year to 16.5 million, giving the firm half the market. In Pakistan, Telenor's user numbers more than doubled. (Back in Norway, the customer base grew by just 5%.) Yet fewer than 50% of Pakistanis own a cell phone; in Bangladesh, the rate is even lower...