Singaporean telecommunications giant Singtel has revealed it had lost 40 million mobile customers in the quarter to December 31, largely fuelled by competition in India. “During the quarter, Airtel continued to be adversely impacted by the continued disruptive price competition from an operator intent on aggressive market share expansion,” Singtel said in its Q3 financial results report on Thursday. Must read: Reliance Jio adds 29 million customers in three months As of the end of December 2018, Singtel had 4.2 million mobile customers in Singapore; 10.2 million in Australia under Optus; 41 million in Thailand under AIS; and 74 million in the Philippines under Globe. Telkomsel in Indonesia was down from 168 million to 163 million quarter on quarter. Airtel gained customers in Africa and South Asia for a total of 97 million and 2.5 million, respectively, but lost almost 50 million customers in the quarter to December 31 in India for a base of 284 million. In total, Singtel reported having 677 million mobile customers across the group, dropping well below the 700 million mark it had announced in May last year. Its associates’ pre-tax earnings were almost SG$800 million less year on year, while the group’s mobile services revenue was down from SG$4.3 billion to SG$4.1 billion. Despite this, CEO Chua Sock Koong said Singtel’s “long-term view on our regional associates remains positive” due to the continuing growth in data usage. “We expect the regional markets to revert to more sustainable market structures and deliver long-term profitable growth,”… [Read full story]
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