3/6/2009

GSM firms plan to invest further in Turkey

Hurriyet Daily News - The mobile communications industry in Turkey, which has reached a volume of USD 35 billion, is getting ready to play a leading role in the country's economy. The competition among the three giants of Turkey’s mobile communications industry is becoming fiercer this year. Encouraged by increasing contracts, operators are planning to invest a total of USD 2.8 billion in 2009. The investments will also provide employment for hundreds of people. The number of cell phone users in Turkey reached 65.82 million by the end of 2008. Satisfied with demand, all three GSM operators in Turkey are one after another announcing annual investment budgets and strategies. Turkcell, the country's largest mobile phone operator, announced it was planning to invest USD 1.6 billion in growth. The firm is also considering creating 1,000 new jobs. Meanwhile, Vodafone, which entered Turkey’s GSM market in 2007 after purchasing GSM operator Telsim for USD 6 billion, is planning to invest TRY 1.3 billion (approximately USD 800 million), this year. Turk Telekom’s mobile phone division Avea plans to invest TRY 465 million (USD 268 million), while increasing revenue this year, Avea Chief Executive Officer Cuneyt Turktan declared.