Turkey Financial News

Posted by meb at March 4th, 2009

Vodafone Turkey CEO Serpil Timuray has said they expect to invest around TL 1.3 billion in 2009, in line with its decision to refrain from slowing investment in Turkey because of the ongoing global financial crisis.

Speaking at a press conference held Tuesday, Timuray said Vodafone aims to continue on its steady growth trajectory, and they see 2009 as a turning point for the company’s success. “Vodafone is known as the number one GSM operator in the world, serving 290,000 subscribers in 67 countries, and the company has direct investments in 27 countries,” she said, noting that they expect to increase the number of Vodafone stores in Turkey to 900 in 2009 and engage 500 new employees. (more…)

Posted by meb at March 4th, 2009

Turkey’s third biggest mobile operator, Avea, reported on Wednesday a 24.2 percent increase in its income for 2008 with 2.1 billion Turkish liras (around 1.2 billion USD).

Avea grew 23 percent last year, and it increased its market share to 18.5 percent from 13.5 percent, doubling the number of its subscribers by 2.2 million up to 12.2 million, the company’s CEO, Cunyet Turktan, told a press briefing in Istanbul. (more…)

Posted by meb at February 26th, 2009

Turkcell, Turkey’s biggest mobile phone operator, sees enhancing profitability and launching new technology investments as a way out against the current crisis. The company plans to invest a total of $1.6 billion in the region.

Turkcell, Turkey’s largest mobile phone company, is planning to invest $1.6 billion this year. Allocating $1.3 billion for technological projects in Turkey, the company plans to make international investment, particularly in Ukraine and Belarus, worth $300 million in 2009. (more…)

Posted by meb at February 19th, 2009

Turkcell, Turkey’s leading GSM operator, has received the Global Mobile Award for “Best Mobile Advertising Service.”

The GSM Association (GSMA) announced the winners of the Global Mobile Awards at a ceremony hosted Tuesday night in Barcelona as part of the Mobile World Congress, which started on Feb. 16 and ends today. (more…)

Posted by meb at February 18th, 2009

While attending the Mobile World Congress in Barcelona on Monday, Turkcell CEO Sureyya Ciliv said Turkey leads the world in GSM use in banking operations. Turkcell is Turkey’s top GSM operator.

At the conference, organized by the World GSM Association (GSMA), Ciliv said it was clear that Turkey was in a good position when GSM applications in Turkey were compared with other applications presented during the congress. (more…)

Posted by meb at February 12th, 2009

Vodafone will spend 1 billion Turkish Liras ($610 million) upgrading the network of its Turkish unit this year, said Serpil Timuray, the unit’s chief executive officer, at a news conference yesterday in Istanbul.

Vodafone has spent $1.5 billion in Turkey since acquiring wireless company Telsim in 2006, doubling the network’s capacity, she said.

Posted by meb at February 9th, 2009

The global economic crisis and the ensuing slide in overall market demand have taken their toll on sales of mobile phones in the Turkish markets.

Recep Uzelli, the chairman of Teleses, a leading group in the telecommunications business, said mobile phone imports have dropped 40 percent in the last two months as a consequence of the growing tendency among Turkish consumers to slash expenditures.

Speaking to the Anatolia news agency yesterday, Uzelli noted that mobile phone sales had already started to show signs of a downturn even before the crisis erupted. Phone sales were much better in 2005 and 2006 than they were last year, he said. 2007 was a year of stagnation in the number of sales, but the crisis caused a real blow to sales performance, Uzelli emphasized. (more…)

Posted by meb at January 2nd, 2009

As the ongoing global financial turbulence starts to take its toll on the information technology sector in Turkey, many have pinned their hopes on the growth of telecommunications investments in the new year.

The Turkish information technology sector actually made a promising start in 2008; however, negative developments that came one after another, including political uncertainty and the global economic crisis, caused the sector to shift down. (more…)