Telefónica announced that the company will invest approximately U.S.$791 million (Bs3.4 billion) in its Venezuelan unit during 2013—an increase of 47% compared to 2012. The investment will focus on the installation of 1,525 nodes, tripling the company’s fiber deployment throughout the country and acquiring the necessary spectrum to provide LTE technology.

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Telefónica estimates that this year it will have 4.2 billion smartphones connected through its network with more than 42% penetration in the Venezuelan market. Last year, the company said it led in the number of smartphone customers in Venezuela with more than three million users, which translates to a 20% penetration and a 55% share of the smartphone connection market in the country.

The carrier noted that over the last few years it has made a continued investment in Venezuela. In the last three years, it invested U.S.$1.3 billion (Bs5.6 billion). Of that amount, Telefónica invested U.S.$534 million (Bs2.3 billion) in 2012, 31% more than the previous year. Telefónica focused on infrastructure deployment and expanding its radio spectrum, which meant doubling the capacity of its data network and providing customers with a 66% increase in browsing speed.

Telefónica’s base for future LTE services includes an 85% increase in the number of nodes, a 139% increase in deployed sites and the installation of nearly 100 kilometers of optical fiber. The first trials were conducted in 2012.