North Korean cellco to reach 1.7m subscribers by the end of 2012

22 Nov 2012

Naguib Sawiris, the Egyptian entrepreneur behind Orascom Telecom Media and Technology (OTMT), says that the subscriber base of North Korean cellco CHEO Technology (Koryolink) will reach approximately 1.7 million by the end of 2012, up from 950,000 at the end of 2011. Speaking in an interview with Forbes, Sawiris said that the 75%-owned subsidiary will achieve revenues of around USD186 million in FY2012 with monthly average revenue per user of USD11. Sawiris also confirmed that Koryolink’s period of exclusivity was to end in December 2012, but that the company has received written confirmation that for an additional period of three years, no other foreign investors will be allowed to launch a mobile network there. Koryolink’s infrastructure allows North Koreans to make only domestic calls and use locally hosted data services, with a separate network available for foreigners in the country.



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