Starcomms outlines ambitious plans

22 Jul 2008

Starcomms says it plans to invest at least USD400 million in 2009 to expand its CDMA-based fixed-wireless network, reports Reuters. The company, which has invested USD600 million in its network since it began operations in 2002, wants to increase its subscriber base from one million currently to 2.5 million by the end of 2008, rising to five million by the end of 2009 and 50 million by 2010. By that date the network will cover 90 locations, compared to 17 today. Speaking on its financial targets, the operator said that it is looking to increase its revenue to NGN91 billion (USD780 million) by 2010, up from an estimated NGN39.5 billion this year. It is also targeting net income of NGN10.5 billion in 2010, reversing the NGN197.6 million loss predicted for 2008.