Egypt’s Mobinil to Launch 3G Network in September
Egypt's Mobinil expects to finally launch its 3G network on the 1st Sept 2009. The company had expected to receive access to the radio spectrum on 17th January, but the radio frequencies were not released until March 27th. The company had hoped to launch its network last month, but again missed its deadline.
"The Egyptian Company for Mobile Services, Mobinil, will launch its 3G mobile network in Egypt on September 1, immediately before the start of the month of Ramadan," the Middle East News Agency said, citing remarks by Commercial Vice President Guillaume Van Gaver. The company also delayed the paying of its EGP750 million instalment for the license by ten weeks due to the delay in releasing the radio spectrum.
Mobinil recently reported that its first-quarter net profit grew 14% to 451 million Egyptian pounds ($84 million) from EGP397 million a year earlier. The company's revenue also surged 27% to EGP2.3 billion from EGP1.8 billion in the first quarter of 2007. According to figures from the Mobile World database, ended Q1 '08 with just over 15 million subscribers and a market share of 51.5%.
Middle East News Agency