Celistics sees strong growth opportunities across Latin America
BARCELONA, Spain – Despite an economic crisis countries in Latin America are facing, the telecommunications sector has a lot of growth potential, explained Jose Antonio Rios, CEO of Celistics, in a video interview with RCR Wireless News during the recent Mobile World Congress event.
“We are in a segment that has not been fulfilled yet,” Rios said. “In the next four or five years, 50% of the people will have access to the Internet through their phone. So, it still leaves us with the other 50% for after 2020.”
GSMA released a study noting there were 363 million people living in Latin America covered by mobile networks, but don’t subscribe to mobile broadband services.
“The potential of growth is enormous for the next 10 years,” Rios said, adding the market has not reached half of its potential.
Rios also noted the entry of new mobile phone brands across Latin America has increased competition and met growing consumer demand for devices, but there remains a strong black market due to economic challenges. “Everybody wants a smartphone. They can’t afford it sometimes,” Rios added.
Talking about the Celistics’ operations in the region, Rios said Brazil is the company’s largest market, although the country’s economic condition makes it challenging. Rios did note the company was about to make an acquisition in an effort to boost growth.
Editor’s note: Samsung provided travel costs to the Mobile World Congress event.
