Banglalink, Bangladesh’s second largest mobile operator by subscribers, has posted a 50% rise in annual revenues in 2008 to BDT19.94 billion (USD298 million), reports bdnews24.com. The Orascom subsidiary saw its subscriber base increase by 46% in the year to 10.3 million at end-December, which it claimed gave it a market share of 23.2%. The company also reported that annual growth would have been higher, but high SIM tax in the country proved to be an increasing financial challenge, which forced all operators to reduce handset subsidies offered to customers, and a result, new subscriber acquisitions slowed down significantly during the fourth quarter. Banglalink said it invested BDT30 billion in its networks in 2008, ‘the highest in the industry during the year’ and bringing its total CAPEX since being relaunched by its Egyptian parent in 2005 to over BDT70 billion.
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