Cablenet has reached a new milestone in the mobile market, exceeding 100,000 contract subscribers and capturing a 9.3% share in the prepaid sector. This remarkable achievement solidifies Cablenet as the thirdlargest mobile services provider, showcasing significant growth and success in the telecommunications industry.
In Cyprus, mobile phones now outnumber people, with a penetration rate of 156%, reflecting a shift towards mobilefirst communication. Landline usage has dropped by nearly 10% as mobile technology continues to gain popularity, with contract plans offering unlimited data becoming the norm.
Epic has been recognized as Cyprus’ Fastest Fixed Internet Network by Ookla, boasting top Speed Scores and superior reliability in internet services. Awarded at the Mobile World Congress, Epic’s commitment to speed and innovation has solidified its position as a leader in the telecommunications industry.
In 2023, Cablenet experienced remarkable growth, reporting a 16.2% increase in revenue, totaling €74.3 million. The company expanded its subscriber base by 29% and won the Glotel Award for Purple Max Internet, solidifying its position as a leading telecommunications provider in Cyprus.
The Audit Office has uncovered concerns at CyTA, Cyprus’s telecommunications giant, regarding questionable investment strategies, noncompetitive contract awards, regulatory noncompliance in mobile phone base station operations, controversial strategic ventures, and potential conflicts of interest in expanding into the electricity market. These findings highlight the need for CyTA to address financial, operational, and ethical challenges to maintain transparency and trust among stakeholders.
