As Telefónica turns its attention to Central America, it has recently increased its investment by a staggering 65 percent. The company hopes to attract clients there with the same combination of innovation and service that captured market share in Europe and South America.
The world’s sixth-largest telecom by market capitalization, Telefónica is a truly global company, with a significant presence in 21 countries on four continents. Owned by 1.5 million direct shareholders, the company is listed on stock exchanges in Madrid, London, New York, Lima, and Buenos Aires. With a global workforce of about 120,000 employees and a customer base that includes more than 341 million accesses, Telefónica had net income in 2014 of just over €3 billion on revenues of €50.377 billion. The company’s first Central American operations began in El Salvador in 1998, when that country privatized its telecom sector, and in 1999 in Guatemala. It entered the Panamanian and Nicaraguan markets in 2004 after it purchased Bellsouth’s operations in several Latin American countries, and in 2011 in Costa Rica though the privatization process.
Keeping the cutting edge sharp
A recognized pioneer in the highly competitive world of telecommunications technology and services, Telefónica stays ahead of the competition through continuous innovation, delivering customers a portfolio of best-in-class products, networks, and services superior to that offered by any competitors. Illustrative of this commitment to innovation is Telefónica’s Open Future initiative, which actively seeks out new talent and digital entrepreneurship, in the process accelerating the growth of ideas, projects, SMEs, and the people behind them. With a presence in nearly every country where Telefonica operates, Open Future connects entrepreneurs, investors, and startups, as well as public and private organizations. The initiative’s goal is to focus innovation toward developing viable projects in such a way as to illuminate talent and connect it with the organizations and investors that need it. To date, Open Future has created more than 10,000 jobs worldwide since its inception in 2014.
“In Telefonica we chose to Listen, Grow, Accelerate, Surprise, Transform and Be Brave to give a decisive move towards global leadership in this fast-paced digital revolution we are living. In other words, we CHOOSE EVERYTHING to become an ‘OnLife Telco’” —Osman Rodriguez, CEO of Telefónica Central America