Siam2you surfs on wireless boom

“I expect double digit growth for the next three years,” says Siam2you’s CEO Niklas Stålberg, a Swedish national, as the digital communications company announces THB 61 million in revenues for the first six months 2004, 51 percent more than the same period last year.
     Last year´s profit was around THB 20 million. He attributes the optimistic 2004 forecast to the large and growing Thai mobile phone user base, today more than 25 million, and Siam2You´s business model.
     Siam2you is currently a preferred partner with three major mobile operators in Thailand: AIS, DTAC and Orange.
     Ninety percent of the company´s revenue comes from its wireless value added services unit, excluding voice, like entertainment downloads.
     The remainder is made by two units in the Interactive Solutions division: Design & Development and New Media.
     Typically customer assignments in the latter units involve various combinations of internet and wireless solutions for consumer-oriented corporations.
     ”For new media we believe wireless advertising will increase in the future. Second half of this year will also see more use of new services like java karaoke, video clips and streaming video in Thailand,” adds Niklas Stålberg.
     The total non voice wireless market in Thailand will generate around THB 11.6 billion this year, according to Siam2you calculations.
     Most of all that revenue stay with the operators. At least 70 percent of operator non voice income come from SMS traffic, second is entertainment downloads – a business Siam2you is in and would like to get more of.
     ”We are also looking at the export market and have in fact already an agreement with Vietnamese mobile operator Mobifone. They have signed a software license agreement with us and use a few services as well,” says Niklas Stålberg.
     The company was set up 1999. Its largest private shareholder is Thai-Swedish Mikael Sribhadung, Chairman of the board. Niklas Stålberg is another major shareholder. Two institutional investors have injected money in the venture: Transpac Capital and BancBoston Capital

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