Entel celebrates 60 years of operation in the country and 10 years in Peru, and in its Annual Shareholders' Meeting the company informed the investment programmed to implement its strategic plan: to maintain its leadership in Chile in the mobile business by consolidating the deployment of its 5G network; to continue its growth in the mobile business in Peru, where it is already the second operator in the country; to connect hundreds of thousands of customers in fiber optic in both countries, and to grow with Entel Digital.
Specifically, in 2024 it will invest US$ 618 million, equivalent to 19.7% of revenues. Of this, US$ 451 million will be allocated to the Chilean operation and US$ 167 million to Peru. And according to the information provided by the technology and telecommunications company, this will be financed entirely with its own resources.
“2023 was a challenging year for Entel and for the industry in general, in which we were able to meet the objectives and strengthen those areas where we made a difference, despite facing a complex environment in Chile and Peru. Entel is celebrating 60 years connecting Chileans and 10 years in Peru and, looking ahead to the next 60 years, it is gratifying to see that we are a company that, despite the challenges, continues to be a pioneer and at the forefront of the market, projecting ourselves into the future, but with a history that supports us", said Entel's CEO, Antonio Büchi.
In this context, he highlighted that Entel was the first company to complete the project committed to in the last 5G tender, two months in advance, in addition to the unprecedented agreement signed with Starlink, which will allow millions of smartphones to access basic satellite connectivity directly to the cell phone by the end of 2024, anywhere in the geography of both countries where there are no mobile networks, without the need for any other device.
He also highlighted that the approval of the operation with ON*NET Fibra will allow them to have a nationwide broadband offer and inject competition in the residential internet market, without having to invest in the deployment of the network and at substantially better average costs than building its own fiber optic network.
Investment plan in detail
Regarding the investment plan, Büchi commented that “in Chile there is a slight decrease of -1.4% if we discount the investment in Home and consider only mobile and business connectivity. This industry is facing a complex scenario and just maintaining investments is a challenge, which we assume in order to maintain our leadership. However, we are significantly increasing investment in Home and SMEs in Chile and Peru, where we are now opening millions of Passed Homes, which requires an investment of approximately US$ 200 for each customer we connect”.
He also said that in Peru, in line with its objective of continuing to grow in the mobile business, “we plan to increase investments by 10% to increase coverage and face the increased traffic due to the expected larger customer base”.
In Chile, “our promise is to deliver the best and most consistent browsing experience in the mobile market. For this it is essential that we have very robust and reliable 4G and 5G networks, which requires an additional investment effort in these years of technological transition", he said. For this reason, this year they will allocate US$ 286 million to the mobile business in the country.
In addition, he said that with this investment, together with the deployment of the 5G network that has already been carried out, “we will advance in our objective of consolidating ourselves as leaders in this new technology as well, always concerned with delivering the best experience to our customers”. In 2023 Entel led in 3G, 4G and 5G mobile connections, with a 34.6% share of the total, also achieving leadership in 5G with a 41.5% share.
In addition, they will allocate US$ 88 million to the Home business in the country, mainly in the connection of new homes with fiber optics, which is one of Entel's strategic pillars of growth. According to Büchi, “we are now reaching almost 4 million homes in the country with a very competitive offer. The objective is to reach in a few years between 25% and 30% market share in the home internet business, and this operation makes it possible”.
Regarding Entel Digital, the investment for 2024 is US$ 13 million. “In line with our vision of being leaders in technology, we launched this business unit that offers cutting-edge technology solutions for companies. We expect to triple revenues in 4 years and for it to represent up to 10% of the company's consolidated revenues,” he said.
Entel Peru
Regarding investments in Peru, he highlighted that US$ 131 million will be allocated to the mobile area and US$ 16 million to the Home business. “It continues to be a market where we see great potential for growth. We are already the second mobile operator in the market and the objective is to close the gap with the leader, supported by a valued brand and a first class service. We want to grow in market share to reach and exceed 30% in 3 or 4 years", said Büchi.
One of the cornerstones of Entel Peru's growth strategy is the extension of its 4G mobile service coverage in the provinces. In addition to this, there is the potential for growth in the fiber optic business after signing an agreement with PangeaCo, which is awaiting approval from the country's free competition regulator. “This will allow us to offer this technology to more than 5.2 million in 86 provinces by 2026,” he said.
23 Abr, 2024
Entel celebrates 60 years of operation in the country and 10 years in Peru, and in its Annual Shareholders' Meeting the company informed the investment programmed to implement its strategic plan: to maintain its leadership in Chile in the mobile business by consolidating the deployment of its 5G network; to continue its growth in the mobile business in Peru, where it is already the second operator in the country; to connect hundreds of thousands of customers in fiber optic in both countries, and to grow with Entel Digital.
Specifically, in 2024 it will invest US$ 618 million, equivalent to 19.7% of revenues. Of this, US$ 451 million will be allocated to the Chilean operation and US$ 167 million to Peru. And according to the information provided by the technology and telecommunications company, this will be financed entirely with its own resources.
“2023 was a challenging year for Entel and for the industry in general, in which we were able to meet the objectives and strengthen those areas where we made a difference, despite facing a complex environment in Chile and Peru. Entel is celebrating 60 years connecting Chileans and 10 years in Peru and, looking ahead to the next 60 years, it is gratifying to see that we are a company that, despite the challenges, continues to be a pioneer and at the forefront of the market, projecting ourselves into the future, but with a history that supports us", said Entel's CEO, Antonio Büchi.
In this context, he highlighted that Entel was the first company to complete the project committed to in the last 5G tender, two months in advance, in addition to the unprecedented agreement signed with Starlink, which will allow millions of smartphones to access basic satellite connectivity directly to the cell phone by the end of 2024, anywhere in the geography of both countries where there are no mobile networks, without the need for any other device.
He also highlighted that the approval of the operation with ON*NET Fibra will allow them to have a nationwide broadband offer and inject competition in the residential internet market, without having to invest in the deployment of the network and at substantially better average costs than building its own fiber optic network.
Investment plan in detail
Regarding the investment plan, Büchi commented that “in Chile there is a slight decrease of -1.4% if we discount the investment in Home and consider only mobile and business connectivity. This industry is facing a complex scenario and just maintaining investments is a challenge, which we assume in order to maintain our leadership. However, we are significantly increasing investment in Home and SMEs in Chile and Peru, where we are now opening millions of Passed Homes, which requires an investment of approximately US$ 200 for each customer we connect”.
He also said that in Peru, in line with its objective of continuing to grow in the mobile business, “we plan to increase investments by 10% to increase coverage and face the increased traffic due to the expected larger customer base”.
In Chile, “our promise is to deliver the best and most consistent browsing experience in the mobile market. For this it is essential that we have very robust and reliable 4G and 5G networks, which requires an additional investment effort in these years of technological transition", he said. For this reason, this year they will allocate US$ 286 million to the mobile business in the country.
In addition, he said that with this investment, together with the deployment of the 5G network that has already been carried out, “we will advance in our objective of consolidating ourselves as leaders in this new technology as well, always concerned with delivering the best experience to our customers”. In 2023 Entel led in 3G, 4G and 5G mobile connections, with a 34.6% share of the total, also achieving leadership in 5G with a 41.5% share.
In addition, they will allocate US$ 88 million to the Home business in the country, mainly in the connection of new homes with fiber optics, which is one of Entel's strategic pillars of growth. According to Büchi, “we are now reaching almost 4 million homes in the country with a very competitive offer. The objective is to reach in a few years between 25% and 30% market share in the home internet business, and this operation makes it possible”.
Regarding Entel Digital, the investment for 2024 is US$ 13 million. “In line with our vision of being leaders in technology, we launched this business unit that offers cutting-edge technology solutions for companies. We expect to triple revenues in 4 years and for it to represent up to 10% of the company's consolidated revenues,” he said.
Entel Peru
Regarding investments in Peru, he highlighted that US$ 131 million will be allocated to the mobile area and US$ 16 million to the Home business. “It continues to be a market where we see great potential for growth. We are already the second mobile operator in the market and the objective is to close the gap with the leader, supported by a valued brand and a first class service. We want to grow in market share to reach and exceed 30% in 3 or 4 years", said Büchi.
One of the cornerstones of Entel Peru's growth strategy is the extension of its 4G mobile service coverage in the provinces. In addition to this, there is the potential for growth in the fiber optic business after signing an agreement with PangeaCo, which is awaiting approval from the country's free competition regulator. “This will allow us to offer this technology to more than 5.2 million in 86 provinces by 2026,” he said.
Entel celebrates 60 years of operation in the country and 10 years in Peru, and in its Annual Shareholders' Meeting the company informed the investment programmed to implement its strategic plan: to maintain its leadership in Chile in the mobile business by consolidating the deployment of its 5G network; to continue its growth in the mobile business in Peru, where it is already the second operator in the country; to connect hundreds of thousands of customers in fiber optic in both countries, and to grow with Entel Digital.
Specifically, in 2024 it will invest US$ 618 million, equivalent to 19.7% of revenues. Of this, US$ 451 million will be allocated to the Chilean operation and US$ 167 million to Peru. And according to the information provided by the technology and telecommunications company, this will be financed entirely with its own resources.
“2023 was a challenging year for Entel and for the industry in general, in which we were able to meet the objectives and strengthen those areas where we made a difference, despite facing a complex environment in Chile and Peru. Entel is celebrating 60 years connecting Chileans and 10 years in Peru and, looking ahead to the next 60 years, it is gratifying to see that we are a company that, despite the challenges, continues to be a pioneer and at the forefront of the market, projecting ourselves into the future, but with a history that supports us", said Entel's CEO, Antonio Büchi.
In this context, he highlighted that Entel was the first company to complete the project committed to in the last 5G tender, two months in advance, in addition to the unprecedented agreement signed with Starlink, which will allow millions of smartphones to access basic satellite connectivity directly to the cell phone by the end of 2024, anywhere in the geography of both countries where there are no mobile networks, without the need for any other device.
He also highlighted that the approval of the operation with ON*NET Fibra will allow them to have a nationwide broadband offer and inject competition in the residential internet market, without having to invest in the deployment of the network and at substantially better average costs than building its own fiber optic network.
Investment plan in detail
Regarding the investment plan, Büchi commented that “in Chile there is a slight decrease of -1.4% if we discount the investment in Home and consider only mobile and business connectivity. This industry is facing a complex scenario and just maintaining investments is a challenge, which we assume in order to maintain our leadership. However, we are significantly increasing investment in Home and SMEs in Chile and Peru, where we are now opening millions of Passed Homes, which requires an investment of approximately US$ 200 for each customer we connect”.
He also said that in Peru, in line with its objective of continuing to grow in the mobile business, “we plan to increase investments by 10% to increase coverage and face the increased traffic due to the expected larger customer base”.
In Chile, “our promise is to deliver the best and most consistent browsing experience in the mobile market. For this it is essential that we have very robust and reliable 4G and 5G networks, which requires an additional investment effort in these years of technological transition", he said. For this reason, this year they will allocate US$ 286 million to the mobile business in the country.
In addition, he said that with this investment, together with the deployment of the 5G network that has already been carried out, “we will advance in our objective of consolidating ourselves as leaders in this new technology as well, always concerned with delivering the best experience to our customers”. In 2023 Entel led in 3G, 4G and 5G mobile connections, with a 34.6% share of the total, also achieving leadership in 5G with a 41.5% share.
In addition, they will allocate US$ 88 million to the Home business in the country, mainly in the connection of new homes with fiber optics, which is one of Entel's strategic pillars of growth. According to Büchi, “we are now reaching almost 4 million homes in the country with a very competitive offer. The objective is to reach in a few years between 25% and 30% market share in the home internet business, and this operation makes it possible”.
Regarding Entel Digital, the investment for 2024 is US$ 13 million. “In line with our vision of being leaders in technology, we launched this business unit that offers cutting-edge technology solutions for companies. We expect to triple revenues in 4 years and for it to represent up to 10% of the company's consolidated revenues,” he said.
Entel Peru
Regarding investments in Peru, he highlighted that US$ 131 million will be allocated to the mobile area and US$ 16 million to the Home business. “It continues to be a market where we see great potential for growth. We are already the second mobile operator in the market and the objective is to close the gap with the leader, supported by a valued brand and a first class service. We want to grow in market share to reach and exceed 30% in 3 or 4 years", said Büchi.
One of the cornerstones of Entel Peru's growth strategy is the extension of its 4G mobile service coverage in the provinces. In addition to this, there is the potential for growth in the fiber optic business after signing an agreement with PangeaCo, which is awaiting approval from the country's free competition regulator. “This will allow us to offer this technology to more than 5.2 million in 86 provinces by 2026,” he said.