Cellcard Applauded by Frost & Sullivan for Offering Customers New Experiences, Convenience, and Value with a Significant Financial Impact in Mobile Services
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Cellcard, once again demonstrated its exceptional financial performance in 2023, marking the second consecutive year of outstanding growth in the highly competitive market. Despite a 97% prepaid penetration rate and a 126% mobile penetration rate, Cellcard has achieved a remarkable 220% year-over-year increase in profit after tax, reaching 182.6 billion riels. This significant achievement is a testament to the company's strategic focus on optimizing operational costs, enhancing mobile network quality and coverage, and introducing innovative products and services. The launch of Cellcard Serey, and Cellcard One, coupled with a loyal customer base, including early adopters and high-ARPU customers, have been instrumental in driving revenue growth.
Cellcard's commitment to innovation has been a key differentiator in the market. The company's track record of launching groundbreaking products and services has not only contributed to customer base growth but has also fostered digital adoption and financial impact. This achievement is particularly noteworthy considering the limited number of regional mobile operators that have been able to replicate such success.
Looking ahead, Cellcard remains optimistic about its growth prospects. The company's ongoing investment in improving mobile network quality is a strategic advantage that will enable it to compete effectively in the market. With the support of a $70 million funding package, including a loan and a sustainability bond, as well as the successful listing on the Cambodia Stock Exchange in June 2023, Cellcard is poised to accelerate its network expansion plans. By focusing on network coverage expansion, service quality enhancements, and digital lifestyle innovation development, Cellcard aims to deliver an exceptional customer experience and continue its trajectory of growth and market leadership.
Mei Lee Quah, ICT research director for Frost & Sullivan, observed, "Cellcard has a track record as an industry innovator with multiple product or service launches that have contributed to its customer base growth and digital service adoption while making a financial impact. This achievement is no mean feat because only a handful of regional mobile operators can achieve it."
Cellcard aims for availability, simplicity, and consistency and makes its products and services, SIM cards, and scratch cards available across its sales channels for a better purchase experience. The customer ownership experience focuses on mobile network quality and performance, innovation, and service excellence to deliver long-term value to customers, enhancing their daily lives and increasing productivity. Businesses gain from enhanced productivity as a result of faster speed and better mobile network coverage. The company constantly monitors, optimizes, and ensures the best network experience for customers with its fast download speeds. Cellcard delivers exceptional customer service, online customer support channels, transparent pricing, value-added services, mobile plans, data packages, and entertainment applications. Cellcard's recent enhancements in mobile network infrastructure have significantly improved network coverage, internet speeds, and overall customer experience. With the deployment of additional sites across ten provinces and the implementation of indoor and microcell solutions, Cellcard customers enjoy faster and more reliable connectivity for their day-to-day activities, as well as innovation to support their digital lifestyles.
"Cellcard's emphasis on reducing customer friction and its focus on delivering exceptional customer service are notable and commendable. The company is leading the way in raising customer satisfaction levels within the telecom industry," added Quah. With its strong overall performance, Cellcard earns Frost & Sullivan's 2024 Cambodian Customer Value Leadership Award in the mobile services industry.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in implementing strategies that proactively create value for its customers with a focus on improving the return on the investment that customers make in its services or products. The award recognizes the company's unique focus on augmenting the value that its customers receive, beyond simply good customer service, leading to improved customer retention and customer base expansion.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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