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Mobile phone growth in Egypt to slow, says EFG-Hermes
- Egypt: Wednesday, September 16 - 2009 at 12:10
Mobile telecom firms in Egypt will see growth in subscribers drop by a third this year due to increased saturation of the mobile phone market, an EFG-Hermes analyst told Reuters. Eight million new subscribers are expected to be added to Egypt's three mobile operators in 2009, after 12 million subscribers were added in 2008. 'We assume market saturation in Egypt will be at 80% to 85% of the population. The mobile penetration rate was at 55% at the end of 2008 and there is still room for growth but it will take until 2015 or 2016,' Marise Ananian, head of telecoms research at EFG-Hermes told the news wire.
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StaffWednesday, September 16 - 2009 at 12:10 UAE local time (GMT+4)
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