A few years ago, access to the Internet in Mexico was possible only thanks to Telmex. However, today we see something completely different, as companies like Megacable and Izzi provide a viable alternative. Now it has come to light Carlos Slim’s company closed the last quarter of 2023 with million-dollar losses and a significant drop in users.
According to the extension, Telmex closed in the last quarter of 2023, a period that covers between January and March 2024. With a decrease of 100 thousand users, and a net loss of $935 million pesos, which represents a significant decrease compared to the same period last year, when an increase of $2 million pesos was recorded. Similarly, an 8% drop in sales and a 34% drop in operating flow were reported.
This is not at all surprising, since Telmex’s revenue and users have declined since 2020. According to the Federal Institute of Telecommunications (IFT), 2020 and 2023, Telmex’s share of the fixed internet market will drop from 44.7% to 38.6.7%. During this period, companies such as Easy focused their control on fiber optic Internet, while Telmex moderated its investment in this direction.
But this is known in the last quarter Telmex has tripled its investment in fiber optics, from $2.5 million pesos in 2022 to $7.8 million pesos in recent months.. Along with this, Salomon Padilla, telecommunications expert and vice president of the Association of Independent Telecommunications (ATIM), noted that Telmex lacks good customer service, something that is a service choice for many people.
As if that was not enough, it was noted that Telmex did not give due weight to the wholesale business, Where there is a good business that other internet companies are taking advantage of. We can only wait to see how Carlos Slim’s company plans to overcome its current woes. In related matters, a major theft of Telmex cable has been reported. Likewise, will Telmex raise its internet prices?
Author’s Note:
It is somewhat complicated. As a Telmex user, I agree that there is currently better service, but there are no better options where I live, a situation where many live. As companies like Megacable and Izzi rise their ranks, Telmex’s dominance will diminish.
Through: expansion