EGYPT’S fixed line operator, Telecom Egypt is looking to boost its internet business through its new cable that will be launched in the near future, the company said.
It is seeking to enter an already competitive market, which has already seen the landline industry contract in recent years.
According to Telecom Egypt, the Internet sector is the future.
They believe that in order to increase their profits – which increased by three percent in the first quarter – they must provide DSL connections in the country.
A statement from Telecom Egypt sent our reporters on Monday said they are “extremely hopeful of the future and are ready to move into new areas that we have not previously endeavoured because if we want to compete in Egypt there must be action taken.”
The company, which is owned by the Egyptian government, believes that profits will continue to rise slightly over the next three quarters, “but will not be as substantial as we would like, which made our decision to move into the Internet and mobile sectors so much easier.”
By mid-year, however, with a new cable expected to be operational between Egypt and France, the company expects to see business revenue of between LE 700 million and 800 million in 2010.
The announcement comes after TE pushed for a ban on 3G mobile phones accessing the popular VOIP service Skype.
JOSEPH MAYTON
