Smartcom Changes Name to Claro

Mexican mobile group América Móvil has started operating its Chilean subsidiary Smartcom, acquired in August 2005, under the Claro brand, Mexican newspaper Milenio reported.

América Móvil already operates in Brazil and Peru under the Claro name.

Since entering the Chilean market AMX has been working on migrating Smartcom's CDMA platform to GSM technology.

Claro Chile recorded a total client base of two million users at the end of the 1H06, up nearly 17% compared to 1.7 million recorded in the same period last year.

The company posted total revenues of 83.5bn pesos (US$154mn) in the first half of this year.

Movistar Chile, the local unit of Spain's Telefónica (NYSE: TEF), leads the local market with 5.33 million users, representing a 46% market share.

BNAmericas.com"

Posted to the site on 9th August 2006