June 24, 2008
Bangladesh’s top mobile phone carrier Grameenphone, majority owned-by Norway’s Telenor, said on Monday the number of its subscribers has passed 20 million after rising more than 21 percent since January.
Grameenphone invested more than $500 million in 2007 expanding its business.
“We are humbled by the trust placed on Grameenphone by more than 20 million subscribers,” said Anders Jensen, chief executive of GrameenPhone.
“Grameenphone’s premium brand image for providing the best quality network, innovative and useful products and services, and ensuring committed customer service are the main pillars of our success,” he added.
Bangladesh’s mobile phone sector has been growing rapidly, with the number of subscribers reaching more than 42 million at the end of May from only 200,000 in 2001, helped by competitive tariffs and cheap handsets.
The number is expected to pass 70 million by 2011 as competition in the sector heats up, analysts have said.
Grameenphone’s competitors include Egyptian Orascom Telecom’s Banglalink, AKTel, majority owned by Telekom Malaysia International, Citycell, a joint venture between Pacific Bangladesh Telecom Limited (PBTL) and Singapore Telecommunications (SingTel), and Gulf-based Warid Telecom and state-run Teletalk.
Although nearly half of Bangladesh’s population of more than 140 million people are still below poverty line, the country has been one of world’s fastest growing cellular markets.
-Reuters, Dhaka
