UK tech firm Mobile Streams plans emerging markets expansion
UK tech firm Mobile Streams announces details of its plan to push forward into Brazil, Africa and India.
The chief executive officer of Mobile Streams revealed plans to expand the reach of its mobile internet services to higher potential markets such as Brazil, India and Africa.
Shares advanced around 12 per cent on the announcement as it will provide more opportunities than attempting to penetrate the saturated core regions of the US and Europe.
“Our strategy to offer our mobile internet services in large emerging markets is progressing,” said Simon Buckingham, CEO of Mobile Streams.
“We remain excited about opportunities to grow our presence during calendar year 2015, particularly in Brazil and India," he added.
It seems like a wise move that may have been part driven by a loss of revenue that stems from the sharp devaluation of the Argentinian peso, which saw revenues for the first half of the 2014/2015 fiscal year fall to £18.5 million, down from £27.1 million in the year before.
Furthermore, Mobile Streams will continue its strategy to mitigate capital risk by moving more than three-quarters of the company’s cash outside of Argentina by the end of December.
Finalising deals in large emerging markets
Mobile Streams appears to be succeeding most in its Mobile Internet segment, where more than 98 per cent of the company’s revenue was generated. To continue its success in this area, the firm has announced plans to launch its services in India, Africa and Brazil.
It is in talks with three of India’s top mobile operators in order to use their carrier billing services to offer consumers access to mobile internet services by the end of the current financial year. Additionally, Mobile Streams has finalised deals with two partners who provide game services for local phone manufacturers.
The company declared it will continue to develop and improve its strategy of launching services in Brazil, where it has reached over 35,000 active subscribers.
In Africa, it is initially focusing on high potential growth markets such as Nigeria, Kenya and Ghana. So far this month Mobile Streams has agreed a deal with a Nigerian mobile operator and expanded another.