Carlos Slim becomes the richest man in the world in recognizing the pent-up demand of mobile phones in Latin America, where only 12 per cent of the population had a cell phone, when its América Móvil (AMX) went public a decade ago. Now the largest company of mobile telephony in the Americas, with more than subscribers that AT & T (T) and Verizon Wireless together, the company is eyeing a similar market which reached today only a small fraction of Latin Americans: Internet. Over the next five years, the company forecasts, 400 million people in the region will have their own Internet connection, 60 million today. Most will use a wireless device to get online, with an opportunity of América Móvil. "This is the future," said Daniel Hajj, CEO of the old society of 45 years and son-in-law of Slim. "Data will be important that the voice was in his own time."
Hajj believes that the Internet is the key to revive what had been the premier company in growth of Latin America. In 10 years, América Móvil has increased from 10 million customers to Mexico telecommunications of America Latin giant, with 225 million customers wireless in 18 countries. Income increased to an average 32% clip every year since 2000, when the company separated then-parent México Teléfonos (TMX), fixed Mexican society it now controls. Today, about mobile phone with a line for each person in Latin America, is wireless is no longer growing so quickly. This is why Hajj is counting on the growing appetite for movie downloads, music streaming and video conversations for the full growth of its business for this decade.
Hajj year last bet 23 billion on data by acquiring Telmex Internacional of Slim and his holding company, KRAs Global Telecom (which owns 60 percent of Teléfonos), for the land-line telephone, Internet and TV networks everywhere in South America. In doing so, he turned a company that produces the sales growth of 14 percent in 2009 as one who grew 7.6% last year. "Your wonderful opportunity of the growth of mobile data, when it gets washed by the conglomerate, sort as something respectable but not stellar in terms of growth,", explains Richard Dineen, an analyst with HSBC in New York securities.
Nevertheless, said Hajj considers that money because it gave him a network, clients never see: 170 000 kilometres of fiber optic cable that extends across the continent. Hajj plans to make an additional investment of $ 32 billion in the capacity of the network over the next four years. Plan of Hajj has Slim support, whose game América Móvil is almost $ 49 billion, much of its 75 billion in public investments.
It was Slim that ten years ago were the original idea that helped propel in the industry of mobile telephony to approximately twice the rate of the whole of the market, the growth of América Móvil Hajj said. The now-71-year-old Slim decided that, instead of just signing of customers for service contracts, it would offer wireless minutes with prepaid cards, with devices subsidized. That would allow the company to achieve a larger customers, since many countries in Latin America have large informal economies where use of credit cards is not well established. Today, approximately 87% of clients of América Móvil use these prepaid services. América Móvil now rely on pre-paid data packages. Brazil, it offers 15 days of access to the Internet for $4. Mexico, customers may send a text message to enable plans for as little as $1.25 for the value of a day of navigation on the Web.
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