A couple of years ago, getting internet in Mexico was only possible thanks to Telmex. However, today we see something completely different, as companies like Megacable and Izzi provide a viable alternative. Now, it has been revealed that Carlos Slim's company closed the last quarter of 2023 with million-dollar losses and a substantial reduction in users.
According to Expansión, Telmex closed the last quarter of 2023, a period that covers between January and March 2024. with a decrease of 100 thousand users, and a net loss of $935 million pesos, which represents a substantial decrease than that seen in the same period last year, when an increase of $2 million pesos was recorded. Likewise, an 8% drop in sales and a 34% decrease in operating flow are reported.
This is not a total surprise, since since 2020 Telmex has experienced a decrease in revenue and users. According to the Federal Institute of Telecommunications (IFT), between 2020 and 2023, Telmex's participation in the fixed internet market decreased from 44.7% to 38.6.7%. During this period, companies like Izzi focused on focusing their control on fiber optic internet, while Telmex moderated its investment in this aspect.
However, during the last quarter it was reported that Telmex tripled its investment in fiber optics, going from $2.5 million pesos in 2022 to $7.8 million pesos in recent months. Along with this, Salomón Padilla, telecommunications expert and vice president of the Association of Independent Telecommunications (ATIM), has pointed out that Telmex lacks good customer service, something that is included in the choice of service for many people.
As if that were not enough, it has been mentioned that Telmex has not given the necessary weight to the wholesale business, where there is a good business that other internet companies are taking advantage of. We can only wait to see how Carlos Slim's company plans to overcome its current problems. In related topics, a large theft of Telmex wiring is reported. Likewise, will Telmex raise the price of its internet?
Author's Note:
It's something complicated. As a Telmex user, I agree that there are better services currently, but there are no better options where I live, a situation in which many live. As companies like Megacable and Izzi increase their rank, Telmex's dominance will decrease.
Via: Expansion
#Telmex #reports #large #user #losses #Atomix
