MTN Group named top 'telecom powerhouse' in MEA
Oliver Wyman report pegs market value of telco giant at $21.9 billion for the year 2008
MTN Group leads the telecommunications industry in Middle East and Africa with a market value of $21.9 billion in 2008, according to management consulting firm Oliver Wyman.
The results, revealed in Oliver Wyman’s latest Communications, Media and Technology State of the Industry report, also identified Maroc Telecom, UAE Etisalat and Zain as ‘telecom powerhouses’ with market values (in billions) of $16.8, $16.2 and $14.1 in 2008 respectively.
While telcos in the Middle East and Africa were among the best performers, the industry lost $3.1 trillion in market value last year, dropping a steep 43% from $7.3 trillion to $4.2 trillion.
“Our research shows that some consumer segments in this region are leapfrogging regular mobile phones in favor of smartphones, and here subscriptions on a 3G network now account for half of total mobile subscriptions,” commented Milan Sallaba, Dubai-based partner of Oliver Wyman.
The report also provided insight into the global technology sector, where consumer electronics dropped 49% of its market value, followed closely by a 48% decline in hardware and semiconductors.
Sallaba added that the growth rate of laptop sales in the Middle East and Africa is now 10 times higher than for traditional PCs.