Entel will invest US$150 million in its mobile network business in Peru

Entel announced that, throughout 2023, it will allocate an investment of US$500 million in its operations in Peru and Chile to continue promoting its service in both territories. This decision comes after they closed the year in 2022 with a net profit of 456,787 million Chilean pesos, a figure higher than the 74,975 million registered in 2021.

In detail, the general manager of Entel, Antonio Büchi, specified that US$150 million will be directed towards investments made in Peruvian territory, which represents 6% more than the previous year (US$142 million). These resources will be focused on the mobile network business and form part of its strategy to promote sustained growth in our country.

At the end of 2022, Entel closed with more than 10 million mobile users, which allowed it to reach a 24.8% market share, which means 1.4 percentage points more than in 2021. In addition, they are projected to reach 30 % in the next years.

“We want to continue growing in Peru, we are a brand appreciated by the market and, therefore, we still have growth potential and we aspire for it to be around 1% per year,” Büchi said at the end of the company’s shareholders’ meeting held this Tuesday, April 25, in Santiago de Chile.

The senior manager of Entel pointed out that Peru represents about 30% of all company revenues and that, during 2022, contributed to making the financial results positive. Thus, the perspective is that the subsidiary in our country has a growth of 1% per year. Similarly, he expressed that beyond political and social events, the company remains firm in its investment decisions.

“Beyond the political cycle, our service is essential for people and, therefore, we must accompany it with investment because traffic and customers grow and technology changes, and we are going to accompany this cycle with investments. Probably, with more risky investments one could discuss it, but when they are focused on our core business, we are not going to stop doing it”he pointed out.

Investments in Chile

Regarding Chile, Büchi explained that the investment in the southern nation will amount to US$150 million and this will be, mainly, for the commercial deployment of its 5G network and the strengthening of 4Gand thus maintain leadership during this technological transition.

“Investments are focused on the mobile network, 4G and 5G in Chile, US$350 million, we want to always be the best and most consistent in the market. The other focus is to accompany the growth of Peru and there are US$150 million allocated to investment in mobile service, which is also accompanied, above all, by customer growth, (since) they are demanding more data and it is necessary to accompany the network for that ”, he affirmed.