Eighth Mobile Network Launched in Cambodia
Published on: 16th Mar 2009
Note -- this news article is more than a year old.
Cambodia has gained an eighth mobile network after Latelz launched commercial services last Friday under the Smart Mobile brand. The company is owned by Cyprus based Timeturns Holdings, which is controlled by unknown Russian backers.
Thomas Hundt, chief executive officer of Latelz, said that even with so many players in the market, Cambodia's mobile sector has room to grow.
"Despite the financial crisis, mobile phone service is a basic need for people, especially in developing countries," said Hundt. "Only around 24 percent of the Cambodian population has access to mobile phones."
"We cannot reveal the size of the investment, but to start a mobile phone network, it costs millions of dollars," said Hundt, who added that the company's coverage includes Phnom Penh and Siem Reap.
According to data from the Mobile World analysts, the country ended last September with an estimated 3.5 million mobile phone users - representing a population penetration level of just 24%.