The gestation period for any telecommunication company to be profitable is 8 years; this is according to Madhur Taneja, Country Manager yuMobile during a morning briefing on Thursday at the Intercontinental Hotel, Nairobi. YuMobile was celebrating its 3 million subscriber mark since 2008.
"We are delighted to achieve the 3 million mark, as it is a demonstration of loyalty and trust from our subscribers and a sign that our products and services are well received in the market," said Mr. Taneja
Adding to its stable of "fastests", the youngest mobile operator in Kenya, yuMobile has demonstrated the fastest subscriber growth, by reaching this milestone in just 4 years since it sold it's first SIM card, something not achieved by other industry players. The company has grown by 68% in the past year, and the Communication Commission of Kenya (CCK) last quarter report it has increased its market share by 9%. Taneja attributes this growth to innovative products yuMobile introduced to the market for instance the "yuCash", which he pointed out it is still in its baby steps, research and having the best value for money.
"It is all about being customer centric", said Taneja. This translates to increased market share; the company share grew by 2.7% to 9% with an increase of 1.1 million subscribers from June 2011 to June 2012. Taneja noted that, the yuMobile will be more profitable in the year 2014 which is their target.
YuMobile is the fastest growing network, as noted in the latest CCK report, where yuMobile grew its subscriber base by 68%, the fastest in the industry in the year June 2011 to June 2012, which was faster than overall industry growth.
By extension, this translates to increased market share, where yuMobile share grew by 2.7% to 9% with an increase of 1.1M subscribers in the year June 2011 to June 2012.
Mr. Taneja concluded: "We would like to thank our subscribers for their continued trust and support, whilst at the same time, reassure them that we will continue to offer 'best in class' products as we grow."