Vimpelcom posts FY2008 results; launches Beeline IPTV

14 May 2009

Russian telecoms group Vimpelcom has announced consolidated group net income of USD524 million for the full-year 2008, down 64.2% from USD1.46 billion in 2007. The company attributed the drop to the depreciation of the rouble and revaluation of the company’s long-term foreign currency debt. Sales rose by 41.1%, to USD10.1 billion, while CAPEX rose to USD2.57 billion, up from USD1.77 billion in 2007. Vimpelcom is Russia’s second largest mobile operator by subscribers: its domestic customer base grew by 12.9% in 2008, to end the year with 47.7 million subscribers.

In other news FierceIPTV reports that Vimpelcom’s Russian fixed line division has launched its Beeline internet protocol television (IPTV) service, almost a year after the company first announced that its subsidiary, Corbina Telecom, was working on a trial service using Microsoft’s Mediaroom platform.

Russia, Beeline (Russia), VEON