i2 on target for another record year in the middle east and africa
10 million handsets sold as of October 15th 2007 - up from 5.5 million in 2006
Strategic expansion drive in low penetration markets and higher unit sales in the GCC fuel i2’s success across the region
The region’s largest and most diverse mobile phone provider, i2, announced today that it is well on track to achieve record results in 2007 with an excess of 10 million handsets sold as of October 15th 2007, across the Middle East and Africa since January.
In 2006, the company sold 5.5 million handsets in 22 markets yielding US$1.3 billion in revenues posting an increase of US$837 million over the previous year.
“Due to an ambitious business strategy, i2’s latest figures show a significant amount of integrated investments in 2006. Over the course of last year i2’s geographical scope has amplified reaching new and potential markets; in addition the brand has developed into a household name and successfully expanded to include various subsidiaries such as i2 magazine, i2 club, i2 café and i2 TV. ”, said Mr.Abdul Hameed Al Sunaid, CEO, i2.
Besides, i2 has embarked on a wide-reaching, multi-tiered expansion strategy, which has seen the company penetrate new markets, boost its retail presence, expand its portfolio and secure several corporate acquisitions.
Universally, the telecommunications sector is witnessing a ceaseless growth in mobile manufacturing, subscribers and operators, due to the increase in demands on mobiles; technological solutions and customer care services.
Due to high penetrated markets such as the Gulf region, i2 has benefited significantly and lucratively; having strategically planned its’ expansion into these markets, at a time where the industry has witnessed an exponential growth. For the Gulf region in 2007, mobile penetration rates reached 152.28% in the UAE, 86.83 % in the KSA, 104.49 % in Kuwait and 152.89% in Bahrain. A major factor to such high penetration levels is the increased turn over of the mobile replacement market, due to demand for the most up to date models on the market; i2 is more than ready to supply to these high demands.
In addition, i2 is present in low penetrated markets with rates reaching 25.65% in Ghana, 28.08 % in Ivory Coast and 11.51% in Sudan in the year 2007. I2’s investments in these regions are a confirmation of the company’s intention to assure and guarantee future growth in developing countries. Africa is an extremely significant market for i2. Within in this developing continent mobile subscribers are set to increase at an annual compound growth rate of about 22.2 percent between now and 2011; i2 aims to be present to cater to this growth.
It is a fact that i2 prestigiously calculated its development through strategically planning the infrastructure growth of the company; i2 researched their potential in all markets, to secure the phenomenal results they have achieved today.
“Entering into new and potential markets, through acquiring new business partners in other countries is top priority in i2’s business goals. i2 is constantly looking to expand its product portfolio, identify new opportunities and carry on with the outstanding business by building and maintaining good relationships with affiliates, manufacturers and operators around the world” concluded Mr. Al Sunaid.
