„Telecom Armenia“ OJSC, known by its trademark Team Telecom Armenia, has recently released its technical, economic, and financial indicators for the 2nd quarter of 2024. The company’s commitment to transparency and accountability is evident in the detailed report, showcasing significant growth in both mobile and fixed communication services.
Mobile communication has been a key area of focus for Telecom Armenia, with the company generating a revenue of 4.89 billion AMD in the 2nd quarter of 2024. This represents a 5.5% increase compared to the 1st quarter of the same year, and a 5.0% increase compared to the 2nd quarter of 2023. The number of mobile communication subscribers has also seen a steady rise, reaching 1,051,679 by the 2nd quarter of 2024.
One of the standout achievements in mobile communication for Telecom Armenia has been the increase in subscribers using mobile Internet services. In the 2nd quarter of 2024, the company recorded 761,137 subscribers using mobile Internet, marking a significant growth compared to previous quarters. The revenue generated from mobile Internet services also saw a notable increase, reaching 2.54 billion AMD in the 2nd quarter of 2024.
In terms of market share, Telecom Armenia holds 25.9% of the subscribers in the mobile communication market in Armenia, solidifying its position as a key player in the industry.
Moving on to fixed communication services, Telecom Armenia earned 3.93 billion AMD from fixed-line services in the 2nd quarter of 2024. This represents a 5.2% increase compared to the same period in the previous year. The number of connected Internet subscribers also saw a rise, reaching 96.9 thousand by the 2nd quarter of 2024.
One of the company’s strategic projects, the construction of a high-speed optical fiber network with a bandwidth of 25 Gb/s, has shown promising results. CEO Hayk Yesayan highlights the positive reception of this network among subscribers, with a consistent increase in new connections. This network not only enhances the fixed Internet services but also lays the foundation for advanced mobile services across Armenia, ensuring stable revenue growth for Telecom Armenia.
Telecom Armenia OJSC, operating under the trademark Team Telecom Armenia, is a leading telecommunications company in Armenia with a rich history spanning over a century. The company offers a range of services including mobile and fixed Internet, digital television, and mobile and fixed telephone communication to individual and corporate subscribers.
The company’s goal is to provide high-quality telecommunication services to all residents of Armenia, achieved through continuous updates and upgrades to its networks. By introducing new international channels and enhancing the reliability and security of Internet services in Armenia, Telecom Armenia remains at the forefront of technological advancements in the country.
Notably, Telecom Armenia was the first telecommunications company in Armenia to conduct an initial public offering (IPO), further solidifying its commitment to transparency and openness. The company’s shares are listed on the Armenian Stock Exchange, reflecting its status as a publicly traded entity.
In conclusion, Telecom Armenia’s performance in the 2nd quarter of 2024 reflects its dedication to innovation, customer satisfaction, and sustainable growth. With a strong focus on both mobile and fixed communication services, the company continues to play a pivotal role in shaping the telecommunications landscape in Armenia.