True Corp expects jump in 2013 revenue

True Online, whose businesses range from broadband Internet to telephone, will invest Bt10 billion next year, while True’s mobile service group will spend Bt15 billion. The group consists of TrueMove, Real Move and Real Future, which holds the 2.1-gigahertz spectrum licence.
Chief executive officer Suphachai Chearavanont said yesterday that he expected the cellular group to post high growth next year, the same as True Online. Pay TV operator TrueVisions is also expected to turn in high-single-digit growth next year. True’s second- and third-generation cellular businesses are expected to serve a combined 26 million subscribers in 2013.
As of the third quarter of this year, True’s mobile group had 20.3 million subscribers, of whom 17.7 million belonged to TrueMove, 2.5 million to Real Move and about 50,500 to Hutchison-CAT Wireless Multimedia.
Real Future will use TrueMove H for its 3G service – the same brand Real Move has used for its 3G-850-megahertz service under the True-CAT Telecom partnership.
According to True’s filing to the Stock Exchange of Thailand last week, it has set aside Bt8 billion to set up Real Future’s first-phase 3G network and for working capital.
The 2.1GHz licence, which runs until 2027, extends the period that True can provide mobile-phone services beyond the end of TrueMove’s concession from CAT next year.
Suphachai said True had no urgent need to seek a partner to bolster its cellular business, but any potential partner should have both strong technology and international synergy.
Earlier True said it would rush to find a partner after clinching the 2.1GHz spectrum licence.
All three 2.1GHz licence holders – Real Future, Advanced Wireless Network of Advanced Info Service and DTAC Network of Total Access Communication – are required to expand 3G network coverage to 50 per cent of the population within two years and to 80 per cent within four years.
Next year True will also focus on improving the group’s financial performance, the CEO said.