Cablenet surpasses 10 per cent market share in mobile subscriptions

Cablenet has broken the 10 per cent market share barrier in mobile contract subscriptions, climbing to third position, according to a report published by the Office of the Commissioner for Electronic Communications and Postal Regulation (OCECPR).

The company noted that the report, which covers the period until the end of 2023, is “fully aligned with Cablenet’s 2023 financial performance”.

According to the data released in the report, Cablenet continues to increase its mobile subscriber market share.

The company noted that this confirms its leading role in the mobile telephony market, with trends indicating strong prospects for further growth.

In just two and a half years since its launch as a full-fledged mobile network operator in Cyprus, Cablenet has achieved remarkable milestones, solidifying its position in the market.

Aside from Cablenet surging past the 10 per cent market share threshold for mobile contract subscriptions, the OCECPR report has also shown that the company has emerged as a strong player in prepaid services, experiencing substantial growth in new connections.

By the close of 2023, Cablenet had surpassed 100,000 mobile contract subscribers, capturing 10.1 per cent of the market share, as per the OCECPR report.

Furthermore, the mobile contract subscriptions market witnessed a significant increase of 53,750 subscriptions in 2023, with Cablenet accounting for 51 per cent of this growth.

In the prepaid market segment, Cablenet demonstrated exceptional performance, registering a strong 4.9 per cent increase in market share during 2023.

This propelled the company from a 4.4 per cent market share in 2022 to an impressive 9.3 per cent by the end of 2023.

This surge translated into a remarkable 106 per cent growth in Cablenet’s prepaid subscriber base over the course of 2023.

“The official results of the Department of Electronic Communications confirm Cablenet’s dedication and determination in achieving its goals and objectives,” Cablenet’s Chief Commercial Officer Pambos Moyseos stated, noting that these are “to become the preferred choice in telecommunication services by the public, both for its quality products and services and for its impeccable customer service”.

“We are honoured that our subscribers continue to reward us with their trust and loyalty and it encourages us to strive for even greater achievements,” Moyseos concluded.