Du, the second telecom operator in the United Arab Emirates (UAE), said its share in the country's mobile market has estimatedly reached the target of 30 percent, local newspaper Gulf News reported on Thursday.
The achievement of Du's 30-percent target in local mobile market share was 16 months ahead of its schedule, the report said.
The company recorded a total of 2.3 million mobile customers at the end of the second quarter of 2008, with its active subscribers reaching 1.85 million.
Osman Sultan, chief executive of Du, attributed the rapid growth of the company's mobile customers to the vigorous economy of the country, whose GDP rose by 7.4 percent to 729.7 billion dirhams (198.8 billion U.S. dollars) in 2007.
"The UAE is experiencing extraordinary growth. That's one track fuelling our own growth and we focus on getting the best market share from this," he said.
Established in December 2004 with a capitalization of 4 billion dirhams, Du launched its services in February 2007 and thus broke the monopoly of Etisalat, the only telecom operator in the UAE since 1976.
The UAE government held 40 percent of its shares, while the AbuDhabi-based Mubadala Development Company and the Dubai-based Emirates Communications and Technology Company owned 20 percent each. The rest 20 percent is held by public shareholders. (1 U.S. dollar= 3.67 UAE dirhams)
Source:Xinhua
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