Latest results suggest the mobile market ended Q218 with an estimated total of 235.076mn subscribers, representing a y-o-y decline of 2.9%. The mobile market has contracted for 13 consecutive quarters, and lost over 22.7mn subscribers since early 2016. We attribute this to inactive SIM disconnections and we believe many inactive SIMs may still be present in the market. • In May 2016, the Ministry of Communications (MiniCom) initiated the next phase of its National Broadband Programme (PNBL). By end-2019 the number of municipalities covered by fibre will be increased from 52% of the country to 70%, covering 95% of the population. Investment will also be channelled into 5G research and development and the Internet of Things (IoT) sector. MiniCom will contribute BRL400mn (USD115mn) to the fibre rollout, with additional funding supplied by regional operators. The total investment is expected to reach BRL2.5bn by end-2019.

Key View

SWOT

Telecommunications SWOT

Industry Forecast

Industry Risk/Reward Index

Weaker Year-End Growth Weighs On Latin America Telecoms Index

Brazil Risk/Reward Index 

Market Overview

Regulatory Development

Competitive Landscape

Company Profile

Claro (América Móvil) 

Oi 

TIM Brasil 

Vivo (Telefónica)

Brazil Demographic Outlook

Telecommunications Glossary

Telecommunications Methodology