Friday, April 21, 2006

KINGSTON, Jamaica: In the week of celebrating its fifth anniversary, Digicel, the telecommunications company that acquired Cingular’s Caribbean operations in June 2005, has recorded a growth rate of 69 percent and laid plans to build a new state-of-the-art headquarters in Kingston for its Jamaican staff base of 1,000.

“Digicel continues to maintain its position as the fastest growing telecommunications company in the Caribbean, with a compound annualized growth rate of 69 percent,” according to Colm Delves, Group Chief Executive Officer. “This record growth rate is unrivaled among the world’s other mobile phone providers.”

It was five years ago this week that Digicel initiated operations in Kingston, Jamaica. In just three months 100,000 new customers had signed up for service and Digicel Jamaica has recently recorded a milestone of 1.5 million subscribers. Today, Digicel currently operates in 16 Caribbean countries, covering a total population of 14 million people and employs over 1,500 people across the region.

With a unique combination of bold deal making, intense customer focus, attention to detail, and speed to market, Digicel maintains an average market share of 63 percent across the islands of its existing operations.

Digicel’s chairman, Denis O’Brien, expects significant growth in the future. At a press conference, held for the recent launch of Digicel Trinidad & Tobago, O’Brien said, “With 10 more Caribbean nations whose telecommunications marketplaces are yet to be liberalized, we expect exponential growth over the next five years.”

“Our history shows that if people are under serviced and dissatisfied, they vote with their fingers and that has happened in every market that Digicel has entered, effectively punishing the incumbent for bad service and high prices for the past 100 years” he added.

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