Telecommunications Market Reshaping Itself As Customer Migration From Fixed To Mobile Voice And Data Services Accelerates.
The telecommunications market is reshaping itself, driven by rapidly changing consumer preferences. And it’s clearly propelling the growth in the mobile business, both in revenues and revenue share, reflecting the continuing customer migration from fixed to mobile voice and data services.
Garfield Sinclair, former Managing Director of Cable & Wireless Jamaica, which trades as Flow Jamaica, in his last statement prefacing the company’s financials said, mobile now contributes just over half of total revenues of the company, 53 per cent, up from 49 per cent in the same period in 2016 and 39 per cent in 2015, evidenced by an 8 per cent year-on-year increase in total mobile subscribers.
Flow Jamaica grew total revenues by 10 per cent or $564M to $6.375 billion for the quarter mainly driven by the 8% growth in mobile subscribers and a 17 per cent growth in mobile revenues.
The company however recorded a $533 million net loss for the quarter, and a negative EPS of 3.2 cents.