Hutch entered the Sri Lanka telecom market in 1998. Due to various reasons, the entry was not as successful as many expected, and it quietly settled into last place.
But a sea change has occurred recently, with the BOI reporting that Hutch is just behind Dialog in investments in the telecom sector. The results are beginning to show, with rapid growth (below); innovation (they were the first to introduce mobile financial transfers between two Hutch customers; Me2U); and more than respectable EBITDAs. Living proof that there is a fortune to be made at the bottom of the pyramid.
The Sri Lanka unit of Hutchison Telecom has passed one million users and the firm is planning to the double the size of its network over the next year, the company said.
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