Milind Kangle, CEO of international mobile virtual network operator (MVNO) Lycamobile has revealed that the reseller is expected to generate revenues of more than EUR1 billion (USD1.3 billion) in its current financial year, which ends on 28 February. Speaking to Global Telecoms Business, Kangle said: ‘February is the end of our financial year, and for the first time we’ll be crossing the EUR1 billion mark. Sales are growing fast’. The MVNO generated sales of EUR630 million in the twelve months ended February 2012.
Going forward, the CEO reiterated previously stated plans to launch as an MVNO in its sixteenth market, the United States. Kangle predicted: ‘The US entry will double our turnover to EUR2 billion in the year March 2013 to February 2014’, adding: ‘The quality of service in general in the US is poor … [operators tend to have] a one-size-fits-all proposition. They’re not able to differentiate. But we differentiate for international calling. We know that there are 15 million potential customers, but we’ve narrowed our target market to 10 million. Our marketing is very focused … We will sponsor a number of religious and cultural events. It’s about getting close to our customers. Our target market understands the Lyca brand. The Indian diaspora has friends and family in the US. Half of our acquisitions come from word of mouth’.
According to TeleGeography’s GlobalComms Database, Lycamobile was established in 2006, and has gone on to launch MVNO services in 14 markets in Europe, namely: the UK, the Netherlands, Belgium, Switzerland, Denmark, Norway, Sweden, Italy, Spain, France, Germany, Poland, Portugal and Ireland, as well as Australia.