HomeInvestment & FinanceOoredoo Myanmar reports 8% growth in revenue in 2021

Ooredoo Myanmar reports 8% growth in revenue in 2021

Despite challenges in the telecom sector and internet shutdown, Ooredoo Myanmar says that the revenue in 2021 grew by 8% compared to 2020.

“During 2021, COVID and directed shutdown of internet services did have impacts on Ooredoo Myanmar’s revenue but in the last quarter of the year, revenue did recover,” Ooredoo Myanmar told Myanmar Business Today.

Currently, internet access has been blocked in many cities in Myanmar where armed resistance is strong.

Despite the internet shutdowns and additional market challenges, Ooredoo Myanmar maintained customer engagement on the My Ooredoo App, which had over 2.7 million monthly active users in December 2021. Additionally, “Oomanji” on the My Ooredoo App has been played over 70 million times since its launch, contributing significantly towards the My Ooredoo App revenue in Q4.

Recently, the junta has increased the mobile data charges doubling the prices which reduces internet usage among people.

“The recent increases have resulted in a drop in network traffic while we note that data charges are now comparable to when pricing regulation was first implemented in 2017,” Ooredoo Myanmar told Myanmar Business Today.

Globally, Ooredoo’s revenue for the full year ended 31 December 2021 stood at QAR 30 billion, an increase of 4% compared to the same period last year, mainly driven by growth in  Qatar, Indonesia, and Tunisia.

 

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