Telecom Argentina S.A. and its subsidiaries (Telecom) operate as a telecommunications, cable television and data transmission service provider in Argentina and a cable television services provider across Latin America.
Additionally, the company is an important multiple systems operator (‘MSO’, a company that owns multiple cable systems in different locations under the control and management of a single, common organization) in Argentina in terms of customers. It provides over 33 million custome...
Telecom Argentina S.A. and its subsidiaries (Telecom) operate as a telecommunications, cable television and data transmission service provider in Argentina and a cable television services provider across Latin America.
Additionally, the company is an important multiple systems operator (‘MSO’, a company that owns multiple cable systems in different locations under the control and management of a single, common organization) in Argentina in terms of customers. It provides over 33 million customers with high-speed fixed and mobile connectivity, offering a flexible and dynamic digital experience across all devices, complemented by a live and on-demand content platform that integrates series, movies, music, and TV programs.
The company's main commercial brands are Telecom, Personal, Personal Pay, and Flow. These brands consolidate an ecosystem of platforms and new businesses, providing a comprehensive and convergent experience for its customers. The company offers services combining mobile telephony services, cable television services, internet services, and fixed telephony services. It also provides Fintech Services, other telephone-related services, such as international long-distance and wholesale services, data transmission, and IT solutions outsourcing, and it installs, operates, and develops cable television and data transmission services. The company provides its services in Argentina (mobile, cable television, internet, fixed, and data services, among others), Paraguay (mobile, internet, satellite TV services, among others), Uruguay (cable television services, internet, and cybersecurity services and products), the United States (fixed wholesale services), and Chile (cybersecurity services and products).
Subsidiaries
As of December 31, 2024, the company’s subsidiaries were Núcleo, PEM, Cable Imagen, Televisión Dirigida and its subsidiaries, Adesol and its subsidiaries, AVC Continente Audiovisual, Inter Radios, Telecom Argentina USA, Personal Smarthome and its subsidiary, Opalker and its subsidiaries, NYSSA, Micro Fintech Holding and its subsidiaries, and TSMA. The company has no significant subsidiaries.
New subsidiaries acquired and created during 2024
Acquisition of TSMA
On September 14, 2024, the company signed a share exchange and transfer agreement with El Hombre Mil S.A. (EHM), the controlling company of TSMA and Ver TV S.A. Both companies provide ICT internet Access and cable television services in some cities along the province of Buenos Aires.
Others
On August 19, 2024, the company's subsidiary Micro Fintech Holding established the company CrediPay in the Republic of Paraguay.
On December 9, 2024, the company's subsidiary Opalker acquired Parklet in Uruguay. Parklet’s main activity will be the development and provision of digital platform services.
Main Products and Services
At Telecom, the company offers its customers an ecosystem of services and platforms, leveraged by robust connectivity inside and outside the home, along with the best entertainment experiences and technological solutions for people, startups, industries, and governments.
The company's focus remains on expanding and enhancing its fixed and mobile networks, as well as increasing broadband coverage and capacity. It is also pursuing new business opportunities through a digital platform and marketplace development model that allows it to maximize opportunities across the region. The company extends its footprint to other markets, with new businesses based on the development of APIs and applications, highlighting its infrastructure and network capabilities for developers around the world.
The company intends to become a relevant player in the Latin American financial industry by developing products that generate monetization in the digital ecosystem, leveraging 5G, and positioning itself regionally. With new businesses, such as IoT, Fintech Services, cybersecurity, entertainment, OpenXpand, and smart home, among others, the company is committed to constant innovation to offer comprehensive solutions and adapt to changing market demands.
As of December 31, 2024, the company offered its customers a diverse range of services, including:
Mobile Telephony Services: Services offered under the brands Personal for individuals and Telecom for corporate services, including voice communications and high-speed mobile internet, among others; and the sale of mobile communication devices (handsets, modems MiFi and wingles, smart watches), which the company has the ability to finance through alliances with certain financial entities. The services are supported in the different technologies of the mobile network (4G/5G);
Internet Services: High-speed internet services primarily via cable modem, FTTH and 4G / 5G internet services offered under the brands Personal for individuals and Telecom for the corporate services. During 2024, such services provide speeds for up from 50 MB to 1,000 MB;
Cable Television Services: Cable television services involve the operation of cable television networks installed in different locations in Argentina, Uruguay and Paraguay. Through Flow, the company seeks to consolidate itself as an entertainment meeting point, offering access to a platform with live and on-demand content. The services provided by Flow include TV series, films, documentaries, exclusive co-productions and live music events. Flow also integrates OTT services enabling customers to access others content providers, such as Netflix, Paramount +, Max, Prime Video, Disney +, and YouTube directly through the platform.
Fixed and Data Services: voice communications, supplementary services, interconnection with other operators, data services (mainly virtual private networks, dedicated transit, signal transport), IT solution outsourcing and advanced cybersecurity solutions, among others; and
Fintech Services: the wallet allows users to create a 100% digital account, free and in a few steps, deposit money through transfers or physical collection networks, send and receive money to other banks and/or digital wallets, recharge your cell phone or transportation cards, pay services and bills, make payments by QR and create personalized savings goals, earn interest, access exclusive discounts, apply for loans, among other features. Additionally, Personal Pay users can apply for an international Visa prepaid card to make online and in-store purchases, subscribe to entertainment services, and withdraw money at ATMs. The card also allows access to daily benefits in supermarkets, fuel and movie tickets, among others.
Mobile Telecommunications Services
The company’s mobile telecommunications service offerings in Argentina include voice communications, high-speed mobile internet content and applications download and online streaming, among others, as well as the sale of mobile communication devices (handsets, Modems MiFi and wingles, smart watches).
In Argentina, the company provides mobile services on 850 MHz in the Northern Region and AMBA, 1,900 MHz, 700 MHz, and AWS (paired frequencies in 1,700 MHz and 2,100 MHz) across the whole country, as well as 900 MHz and 2,600 MHz assigned by towns and cities.
As of December 31, 2024, the company had approximately 21.6 million mobile customers in Argentina.
During 2024, the company expanded its 5G footprint in Argentina by adding 188 new sites, reaching a total of 265 by the end of the year. In addition, the number of customers with 5G-enabled devices increased from 2.0 to 3.1 million by year-end.
Residential and Corporate Services
The company offers mobile telecommunication services to residential and corporate customers through a variety of flexible options. These options include prepaid, post-paid, and Abono Fijo (fixed subscription plans).
Under prepaid plans, customers pay in advance for services, using prepaid credit. Since there are no monthly bills, prepaid plans allow customers to communicate with maximum flexibility while maintaining control over their consumption. Prepaid credit can be purchased through prepaid cards or virtual credit on the company's website, by phone, at ATMs, and drugstores, or through authorized agents. The company's mobile telecommunication customers may browse the internet, make and receive local, national, and international calls, and buy multimedia content. The company offers a variety of packs that enable customers to use the aforementioned services at lower prices. These packs may include a fixed number of minutes to make national or international calls, SMSs, and a quota of megabytes for browsing the internet, among other services.
Under post-paid plans, customers pay a monthly fee for a particular plan, plus charges for additional services not included in that plan. Most of the plans the company offers include a quota of megabytes for browsing the internet and unlimited airtime for on-network calls and SMS. Depending on the price, some plans include a number of free seconds or unlimited airtime for off-network calls. Once the included seconds have been used, customers can continue using the mobile service at a set price per second. Customers can also purchase additional megabytes to continue browsing the internet after using the megabytes included in their monthly plan. Charges for additional airtime, megabytes, or multimedia content are added to the following month’s bill. These plans also include gigabytes or roaming minutes to communicate abroad. Among the post-paid plans, the company also offers M2M plans based on the IoT concept, which refers to the digital interconnection of everyday objects to the internet, and are specifically aimed at business customers. These plans include solutions, such as geolocation and fleet monitoring, refrigeration control, information security solutions, sales management solutions, and cloud solutions for information storage and protection.
Fixed Subscription (Abono Fijo). Under the Fixed Subscription (Abono Fijo) plans, a customer pays a set monthly bill. As in post-paid plans, most of these plans include a quota of megabytes for browsing the internet, unlimited airtime for on-net and off-net calls, SMS and a fixed amount of credit that can be used to buy packs or multimedia contents. Once the prepaid seconds have been used or the internet quota has been met, the subscriber can obtain additional credit by recharging its line through the prepaid system.
The company’s strategy during 2024 focused on continuing to lead in mobile services, promoting the consumption of high-speed services by providing upgrades and improving the experiences of certain customers, and more generally addressing the needs of small, medium and large customers and continuing to grow in the Digital Solutions business (Cloud & Infrastructure, Datacenter, Cybersecurity and IoT).
The main developments in the company’s residential and corporate services during 2024 were the following:
The company continued offering mobile services ranging from prepaid plans to postpaid plans, with options between three gigabytes and 25 gigabytes for residential services and 60 gigabytes for corporate services.
The company continued focusing on the development of convergent offers for its customers, providing additional bonuses upon the purchase of various services to increase customer loyalty. It extended the initiative to corporate customers, seeking to enhance services convergence.
The company continued adding benefits for mobile and convergent subscription customers.
The company continued working on international services while focusing on increasing the efficiency of international traffic management, minimizing the cost of the service to sustain the simplification and evolution of the roaming offer, and achieving higher quality. It has expanded its coverage, optimized quality metrics, and maximized the use of data benefits from plans and quadruple play. The company continued to expand its 5G roaming coverage to the top 20 destinations, such as Germany, Brazil, China, the United Arab Emirates, the United States, Italy, and Turkey. International roaming usage coverage increased to 75%.
Wholesale Services
The company's mobile telecommunications infrastructure also enables it to provide the wholesale services summarized below.
International Business. Despite the decline in tourism, the impact on inbound roaming revenue was less significant in relative terms.
The company continued to focus on reducing costs and increasing international sales. It created favorable supply conditions to encourage greater consumption and optimized its cost structure to improve the capture of roaming traffic from foreign visitors on Telecom’s network.
In the application-to-person (A2P) business, the company revamped its business model for integrated aggregators, facilitating domestic and international A2P traffic while optimizing monetization strategies.
Domestic Business. The revenues and costs of the company's wholesale businesses with domestic operators are mainly related to interconnection traffic charges (call origination/termination, long-distance transport, and transit, both on the mobile network and on the fixed network); sale of interconnection service resources; sale of infrastructure to large groups (Datacenter Services, Mobile Backhaul, Links, etc.); national roaming; and infrastructure sharing (RAN sharing and lease of conventional and non-conventional infrastructure sites, among others).
Network and Equipment
In terms of infrastructure, during 2024, the company continued to improve the services it provides by deploying the 4G/LTE network and the deployment of fiber optics to connect homes with broadband, which also had an impact on the fixed and data network. This allowed the company to stand out from its competitors, significantly improving the NPS of its customers.
In Argentina, the deployment of 4G/LTE has achieved a coverage of 97% of the urban population across 2,032 towns and cities as of December 31, 2024. Furthermore, the company has reached a 98% coverage of the population in major cities of Argentina as of December 31, 2024. Customers accessing the company's 4G network experience enhanced service quality, enjoying speeds of up to 66 Mbps, and approximately 77% of calls are now made using VoLTE, a technology that enables voice calls over the 4G network, resulting in significant improvements in audio and video quality.
In addition, the company has continued the deployment of mobile site connectivity to enhance quality and capacity, replacing radio links with high-capacity fiber optic connections.
Furthermore, the initiative to connect remote and low-density areas through satellite backhaul remains ongoing.
Regarding 5G, by the end of 2023, and through the Argentine government-launched tender, the company acquired spectrum that will accelerate the growth of its 5G service. It has reached 265 sites with 5G.
Internet Services
The company provides broadband internet services in Argentina. Broadband can be delivered through three technologies: cable modem (HFC), fiber optic (FTTC and FTTH—dedicated for corporate services), and wireless (and satellite for corporate services), with cable modem and FTTH being the most widely used for residential services. The company markets its services through HFC and FTTH technologies.
During 2024, the company continued promoting broadband offers, providing greater speed to customers who have the technical availability to use it.
With respect to access networks, the company's strategy aims to satisfy the rising broadband demand, mainly for downloading videos and multimedia content from the internet. In this respect, it intends to continue the expansion of its access fiber optics infrastructure, using different modalities and technologies, which have been optimized based on the demand for services provided and different geographic locations.
During 2024, in Argentina, the company continued deploying its FTTH network both in greenfield areas (an area where it has not deployed any of its technology networks: HFC or FTTH) and in the reconversion of brownfield areas (an area where it has network deployment), granting more customers access to ultra-high internet velocity with speeds of 1,000 MB. The company also upgraded the customer base average speed by migrating customers to its HFC and FTTH network (i.e., technologies that replace copper with fiber optics at different points of the transmission network).
Residential and Corporate Services
As of December 31, 2024, the company had approximately 4.0 million internet customers in Argentina.
In Argentina, during 2024, the company continued with the reconversion of Telecom’s fixed internet network, expanding by 16K FTTH blocks in new locations and/or XDSL/HFC one way and 0.4K FTTH blocks in HFC two way (Overlay) areas. Key projects included deployments in the towns of Bariloche, Viedma, and Las Heras.
The migration of customers towards the best available technology (XDSL to HFC/FTTH and HFC to FTTH) and the selective shutdown of obsolete networks continued, seeking efficiency and improving customer service.
The internet connectivity products the company offers through the Personal and Telecom brands are specially tailored to the needs of each residential or corporate user and include specific solutions, such as virtual private network services, traditional IP links, and corporate products that offer additional services. The company offers internet products ranging from 50 MB to 1,000 MB.
In Argentina, customers with a service of 100 MB or more represent 89% of the total customer base as of December 31, 2024. Within this range, customers have contracted service plans of 100 MB, 300 MB, 600 MB, and 1,000 MB, which, as of December 31, 2024, amount to 1.6 million, 1.7 million, 0.1 million, and 0.1 million, respectively, positioning the company's Personal brand as the technological benchmark brand of the industry.
Additionally, the company offers international IP access through well-known global backbone providers.
The company also offers Personal WiFi Zone, a connectivity experience available to customers with Personal internet at home, which is the largest WiFi network in Argentina. Personal WiFi Zone has a coverage of more than 2.1 million locations distributed throughout the country. The service is used by 130 thousand customers on a monthly basis.
Network and Equipment
In order to continue bringing fiber optics closer to customers, the company consolidated the deployment of FTTH networks, substantially improving the possibility of offering high-speed services. This rollout encompassed both residential and corporate customers, new neighborhoods, gated communities, buildings, and shopping malls.
With respect to HFC networks, investments were focused on increasing the capacity of existing networks to keep up with customers’ traffic demand by reducing service areas and increasing upstream capacity. In addition, the deployment of a new FTTH network superimposed on the HFC network continued, seeking to connect new customers to this new network. In this way, the traffic on the HFC network is relieved, and better services are provided to customers.
In addition to the renewal of the access network described above, the transformation process of the transport network continued, allowing not only greater capacities but also greater operational efficiency and scalability.
Competition
The company faces nationwide competition in the internet service market in Argentina from Telefónica, AMX Argentina (commercially known as Claro), Gigared, and Telecentro (providing a triple-play offer), among others.
The company’s data services business faces competition from Telefónica, AMX Argentina and from several providers of niche data services, such as Cirion Technologies, IPlan and others.
Cable Television Services
The company provides cable television services in different locations in Argentina.
During 2024, the company focused on improving the performance and stability of its various TV and streaming products, thereby enhancing the customer experience with its offerings and aiming to improve the NPS.
In recent years, Flow has continued promoting local production with high-quality, original content featuring local talent. During 2024, the company released various quality national co-productions with Warner and Kuarzo, among other production companies. Additionally, it has strengthened its position in live music streaming by broadcasting events featuring both national and international artists, as well as major festivals.
As of December 31, 2024, the company had approximately 3.2 million cable television customers in Argentina, which represented 37% of the Argentine market share for cable television services.
Cable Television Networks and Operating Regions
As of December 31, 2024, the company's principal cable networks were located in AMBA. It also operated cable networks in other cities within the provinces of Buenos Aires, Santa Fe, Entre Ríos, Córdoba, Corrientes, Formosa, Misiones, Salta, Chaco, Neuquen, Río Negro, Mendoza, and San Juan. As of December 31, 2024, Telecom’s fiber optic network covered approximately 92,000 kilometers, of which approximately 29,000 kilometers correspond to the interurban network.
Retail and Corporate Programming and Other Cable Television Services
In 2024, the company continued investing significant resources to expand the variety of programming options in order to appeal to potential new customers and meet their needs. Its cable television services revenues are derived primarily from monthly subscription fees for cable service. To a lesser extent, its cable television services revenues also come from connection fees, advertising, and fees for premium and pay-per-view programming services, Flow, and video-on-demand services (VOD).
The company purchases basic and premium programming from more than 80 signal providers in Argentina. Programming arrangements are primarily denominated in Argentine Pesos. Fees paid to signal providers under these arrangements are linked to the growth of the company's cable television subscriber base and the fees charged.
Premium Services (Premium Packages)
The company’s customers are given the option to acquire Premium Packages not included in the basic package by paying an additional fee. These packages and services include channels in addition to those included in the basic package, provide exclusive content, and divide such content by movie genres and sports, or a combination of these categories.
Flow and OTT Services
In order to enhance its customers' experience while accessing its content offer, the company offers a digital platform branded 'Flow' that integrates television channels with On demand content. Through Flow, which uses the fastest fiber optic network in the country, the company's customers are able to watch television at any time and place and from any device (such as tablets, smartphones and smart TVs, among others). Flow allows the company to distribute contents through an IP structure coupled with digital television quadrature amplitude modulation, which includes adequate security measures. Flow enabled the company's customers to use new modern functions, such as lineal streaming, reverse electronic program guide, the possibility to 'start over' a program, access to 'video on demand', contents and 'cloud DVR' (which allows customers to save content in the provider's database instead of the customers digital recorder).
Additionally, the company offers a more accessible and competitive product alternative through Flow Flex. With Flow Flex, customers can watch live TV and subscribe to Premium Packages or streaming apps. In addition, they can enjoy Flow functionalities such as pause, rewind, rewatch, record, rent movies online, and watch on two screens simultaneously.
Flow also offers to the company’s customers a single platform through which they can access different OTT services. Additionally, Flow continues evolving with new facilities, innovative and quality content based on alliances with renowned national and international production companies as Disney+, Paramount+, Universal+, Netflix, Prime Video and Max.
Another key aspect was to continue promoting the streaming platform for live music shows and festivals and enrich the content catalog with films of high global relevance that the company was able to make available to all customers almost simultaneously with their film release.
Additionally, as part of the ongoing update of devices, Flow commercially presented a self-installable set-top box with distinctive surround sound properties, and compatible with Google Assistant, integrated Chromecast, 4K resolution, HDR and Dolby Vision, among others.
Competition
Paid television industry is highly fragmented, and the company’s largest competitors are Telecentro S.A., which is focused in the AMBA, and DirecTV Argentina S.A. (DirecTV) (satellite television), present throughout the entire country. Telecom also considers OTT internet video system providers, such as Netflix, Disney+, Prime Video and On Video, among others, as competitors.
Network and Equipment
The company’s network’s trunk or Backbone portion in AMBA consists entirely of fiber optic cable. The company built a fiber optic cable ring around the City of Buenos Aires that provides network redundancy (which helps ensure network availability in the event of a network device or path failure resulting in unavailability) and improves overall network reliability. The company has deployed a similar fiber optic network architecture in other major cities.
In addition, cable television service is also provided through FTTH networks with IP technology, combining state-of-the-art networks to provide high-capacity internet with video services through the same physical link.
Fixed and Data Services
The company offers voice communications, supplementary services, interconnection with other operators, data services (mainly virtual private networks, dedicated transit, signal transport), IT solution outsourcing and advanced cybersecurity solutions, among others.
Fixed and Data Services comprises the following:
Residential and Corporate Telephony and Smarthome Services
Basic Telephone Services. The company provides Basic Telephone Services, including local, domestic and international long-distance telephone services. As of December 31, 2024, it had approximately 2.7 million fixed telephony lines in service, including TOIP lines.
Other Telephone Services. The company provides its customers other related supplementary services such as call waiting, call forwarding, conference calls, caller ID, voice mail, itemized billing and maintenance services.
During 2024, the company continued to strengthen its TOIP services and position through the evolution of its portfolio of security service solutions, along with a communication and dissemination campaign throughout the year, aiming to bring its wide range of services closer to corporate customers.
The company took an important step in the evolution of home connectivity with the launch of self-installable VoLTE (Voice over LTE) in November 2024. In this way, it consolidated its technological transformation, focused on self-management, operational efficiency, and leadership in connectivity.
Additionally, the company offers Smarthome services, a solution designed to keep customers connected to their home at all times. The main objective is to offer peace of mind and comfort.
The initial device is an advanced camera that allows customers to monitor their home in real time. Additionally, the camera is equipped with a proactive alert system that notifies users about specific pre-configured events.
As an added value, the company offers a cloud storage service of up to 14 days, available for an additional cost.
For the year ended December 31, 2024, the company sold more than 36,000 cameras, with 22,000 unique users.
Wholesale Services
During 2024, the company remained one of the leading providers of wholesale telecommunications solutions for various providers and operators in the market, including cable operators, ISPs, cooperatives, and other service providers. Wholesale services include:
Infrastructure Services. Infrastructure services primarily refer to:
Interconnection services, which include dedicated links, layer 2 (Lan to Lan) and layer 3 (IP Virtual Private Network).
Datacenter services, which include housing services, connections and cross-connections.
Internet Services. Internet services mainly include the IP transit service. During 2024, Telecom focused most of its business on IP transit service, demanded by ISP providers to provide internet connectivity to their customers through different market segments. This led to a significant increase in local and international bandwidth consumption.
Value Added services. Virtual Private Servers, Security, IoT, or other additional services.
International Long-Distance Service. The company holds a non-expiring license to provide international telecommunications services in Argentina, including voice, data services, housing, and international point-to-point leased circuits. It is connected to international telecommunications networks, mainly through various submarine fiber optic cables and VoIP technology.
Services provided in the United States. During 2024, the company continued developing commercial actions aimed at increasing the profitability of wholesale products, among which are the services for OTTs. Its presence in the United States, through its subsidiary, Telecom Argentina USA, has enabled the company to develop links with major North American cloud content and service providers.
Corporate Data Services
The data services business includes nationwide data transmission services, virtual private networks, symmetric internet access, national and international signal transport and videoconferencing services. These services are provided mainly to corporations and governmental agencies.
The company also provides certain value-added services, including electronic standard documents telecommunications software exchange. Its corporate data services business includes the lease of networks to other providers, telecommunications consulting services, operation and maintenance of telecommunications systems, supply of telecommunications equipment, and provision of related services. The corporate data transmission services it provides are mainly Ethernet and IP services.
The company provides services to leading companies in the Argentine market, as well as primarily digital solutions to businesses with branches across Latin America, in addition to serving the national government, provincial governments, and municipalities. These large customers demand cutting-edge technology and solutions tailored to their needs, including voice, data, internet, and value-added services.
In response to the constant changes demanded by the market, the company maintained its strategy to position itself as an integrated service provider for large customers by offering convergent ICT solutions, including fixed and mobile voice, data, internet, multimedia, datacenter, and application services through sales, consulting, management, and specialized and targeted post-sale customer services.
At Telecom, the company has evolved from an ICT company to a Tech-Co, offering a comprehensive portfolio of technical architecture and infrastructure solutions. As a multi-cloud provider, it integrates major international hyperscalers and leverages its datacenters to host edge solutions, provide world-class brand equipment, and deliver professional services for implementation, migration, and application support. Additionally, the company has expanded its connectivity security services to include user identification and security technologies, addressing the growing needs of hybrid work models. It continues to strengthen strategic partnerships with leading companies, such as IBM, AWS, Google, Microsoft, Huawei, Oracle, and Dell, among others.
The company intends to provide protection of information and IT and OT (Operational Technology) infrastructure against internal and external threats, offering high-caliber solutions designed to ensure the security, integrity, and availability of IT systems to protect confidential corporate information and personal information of employees and customers in organizations (Cybersecurity Services). It also provides comprehensive solutions to achieve a secure digital transformation (Governance, Risk, and Compliance) and advanced consulting services through qualified teams of experts who conduct reviews and analyses of cybersecurity in organizations, network infrastructure designs, network perimeter protection, antimalware strategies, health checks, hardening, and best practices, thereby helping to comply with various industry standards (ISO/IEC 27001/27002, NIST, SWIFT, PCI, among others). Furthermore, the company’s differentiation lies in the offer of solutions designed and developed by its Software Factory, thus providing a comprehensive and personalized approach for each customer, ranging from the review and analysis of cybersecurity in their organization to the creation of solid network infrastructures.
During 2024, the company worked to position the Ubiquo brand regionally (through its subsidiaries Ubiquo and Opalker). It entered into service agreements with companies in Chile, Peru, and Mexico.
In relation to IoT solutions, the company provides the necessary technology for customers to connect to their data, applying intelligence for better and faster decision-making, and helping them develop and improve the efficiency of their business. During 2022, the company focused on platforms for industry and utilities, IoT connectivity (LPWAN and managed), and tracking (people, assets, and vehicles), growing its offer. During 2023, the project aimed to bring urban connectivity to rural areas through an innovative business model where a group of agricultural actors can create a value cluster. Together, they can contribute to the creation of the LTE network, and in return, Telecom returns the value invested in valuable solutions (Cloud, Cybersecurity, IoT, Connectivity, etc.). This project not only brought the possibility of incorporating technology into agriculture but also enabled the connection of schools, doctors, firefighters, police, and people in general.
In 2024, the company continued to consolidate its offer of Hybrid Architectures, being one of the most complete in the country (combining public cloud, private cloud, infrastructure, colocation, and applications). It is constantly working to strengthen its strategic alliances with large companies, such as IBM, AWS, Google, Microsoft, Huawei, and Oracle.
In addition, the company continued investing in its major datacenter in the city of Pacheco, province of Buenos Aires, consolidating its position as a leader in the market and enhancing the level of services supplied. These investments are intended to support business growth in the next few years with the highest market standards.
Network Exposure and Monetization
As part of the Open Gateway initiative led by the GSMA (a global organization whose mission is to unify the mobile ecosystem to discover, develop, and deliver innovations that help business and society thrive), the company was the first in Argentina to launch an API within this standard. This achievement led to the GSMA recognizing the company as the Market Champion of Open Gateway in Argentina for its commitment to this initiative.
In 2024, the company solidified its position as a pioneer both nationally and regionally by successfully launching four standardized APIs: SIM swap, number verification, device status, and device location. These services provide tools to secure digital identity and enhance mobile applications. With these offerings, Telecom is cultivating a new business vertical that enables the monetization of networks within the digital ecosystem.
Additionally, the company announced the creation of the OpenXpand platform through its subsidiary Parklet, a new technology company in partnership with Intraway. This platform will support mobile operators, primarily in Latam, in the comprehensive development of the Open Gateway business model to accelerate the monetization of network and data services through APIs. OpenXpand will provide the capability to implement the platform jointly developed by Telecom and Intraway and ensure seamless interoperability with other industry solutions. It will also offer consulting services for API integration, product design, and architecture, aiming to position itself as the primary partner for regional operators looking to embrace and accelerate the implementation of this new business paradigm.
Network and Equipment
The company’s network strategy, for the medium and long-term, focuses on satisfying the demand of the services it provides, improving its customers’ experience and promoting technology evolution.
With respect to the core network, the company seeks to continuously increase the capacities and availability of the services offered to its customers. In addition, it continued implementing the standardization of protocols and network architectures to enhance the efficiency of its operation and maintenance, resulting in cost reductions for those activities.
The company also continues with the unification of the trunk networks, consolidating network buildings, which achieves not only operational efficiency but also reduces costs, such as energy and maintenance.
Competition
Finally, and regarding wholesale services, the main competitors in Argentina for connectivity services are Cirion Technologies, Telefónica, ARSAT (a Government owned company) and Silica (Datco Group).
In the cybersecurity vertical, Telecom’s competitors are companies that have a multiproduct/multiservice offering, such as RAN, NeoSecure, NovaRed, Nextvision Point IT, Murc IT, and Base 4, among others.
Fintech Services
Personal Pay is the company’s digital wallet, through which people can pay, send, save and manage their money the way they want. The massive launch of the application and its functionalities took place in June 2022.
In 2024, the company focused on increasing the number of users and transactions, key elements for the platform’s monetization.
Main Products and Services
The following functionalities are enabled through Personal Pay: create a 100% digital account, free and in a few steps, deposit money through transfers or physical collection networks, send and receive money to/from other banks and/or digital wallets, recharge mobile phone lines recharge transport cards, pay for services, ask for a VISA Personal Pay prepaid card, ATM withdrawal, payments with QR, remuneration of balances, sale of recharges (b2b), QR acceptor, QR payments personal insurance, create personalized savings goals, extra pay, benefits and discounts in shops, and credit / lending.
The commercial campaigns for Personal Pay focus on strengthening the integration and synergy between the products and services within the company’s digital ecosystem.
Personal Pay is fully managed within the application, allowing users to clearly and easily visualize all deposits, withdrawals, and transfers made. All users have access to the VISA Personal Pay international prepaid card. The company's digital wallet offers a customizable card in physical format.
With the prepaid card, the customer can make purchases online and in physical stores, subscribe to entertainment services and withdraw money at ATMs.
The intention is to continue promoting financial inclusion through the fintech industry in Argentina, which is why it expects that new solutions will be incorporated to reach segments of the population that do not have access.
During 2024, the company’s strategy focused on adding new capabilities to its value proposition:
Network and Technology
Personal Pay strives to carefully balance its resources, both human and technological, seeking operational and financial efficiency. Each addition to the team is planned with the goal of proportionally increasing delivery capabilities.
Personal Pay’s software architecture and hardware requirements are designed to be highly scalable, adapting to the expected growth of the company. This strategic planning ensures a technological infrastructure that will effectively support future expansion and operations.
Furthermore, strategic investments and acquisitions are intended to align with the company’s long-term vision. In the company’s constant pursuit of strengthening internal capabilities and enhancing the value proposition, it engages in strategic partnerships and make selective acquisitions.
While a significant portion of the software is developed internally, Personal Pay acknowledges the value of technological partners. This collaboration allows leveraging the expertise of partners, strengthening the robustness, efficiency, and security of solutions. Strategic outsourcing enables Personal Pay to optimize operational efficiency and flexibility.
Ongoing engagement with suppliers and active participation in technological events are essential for Personal Pay to stay updated on the latest trends in fintech. This strategy ensures that the company is equipped with the knowledge and resources necessary to address the constantly evolving challenges of the financial market.
Subsidiaries in Paraguay and Uruguay
Paraguay
The company provides mobile telecommunications services nationwide and distributes audio and satellite signals to customers’ homes in Paraguay through its subsidiary Núcleo, under the Personal brand. Núcleo obtained licenses to provide commercial mobile services, internet access, Flow service, and videoconferencing and data transmission services in Paraguay.
As of December 31, 2024, Núcleo had approximately 2.6 million mobile customers, 0.3 million internet customers, and 0.1 million cable television customers.
Regarding postpaid mobile services, during 2024, Núcleo maintained its customer acquisition strategy through aggressive offers and a focus on convergent customers. For prepaid mobile services, Núcleo continued to offer packs that included advantages in the use of data, as well as unlimited calls to all operators.
In terms of internet services, in Paraguay, the company continued expanding its FTTH network, delivering high-speed internet leveraged on the fastest fiber optic network in the country.
Network and Equipment
In Paraguay, the mobile access network continued to expand with the addition of 23 new sites. The installation, commissioning, and operational testing of the 5G trial node were completed in October 2024, marking a key milestone ahead of the upcoming tender for the 3,500 MHz band spectrum, scheduled for early 2025. In December 2024, CONATEL released the draft terms and conditions, inviting interested parties to submit queries and suggestions for consideration.
Regarding internet services, in 2024, Núcleo continued with the deployment of its fixed network, which allowed the company to improve the country’s connectivity and economic convenience for its customers, and consolidate itself as the company with the greatest fiber optic coverage in the country.
Competition
The main competitor for Núcleo regarding internet services is Tigo, followed by AMX Paraguay.
In relation to Flow services, there are two other operators that offer similar services in the Paraguayan market, Tigo and Claro, with Tigo being the main competitor with its OneTV service.
Uruguay
Telecom provides management and administration services to companies that render pay TV services under the brand Flow through Telemás S.A., one of the Adesol’s subsidiaries.
Flow is consolidated as the meeting point for entertainment, and customers discover on this platform a wide variety of content, from the place they choose and through the device they prefer, in a flexible and simple way. The increasingly diversified access offered through Flow TV, Flow Box and Flow App allows the arrival of entertainment to all Uruguayan homes, providing not only pay TV services but also streaming services.
As of December 31, 2024, Adesol had approximately 0.1 million customers in Uruguay, providing them with pay TV services under different technological platforms, DTH (Direct to Home), cable, MMDS (Multichannel Multipoint Distribution System) and IPTV services, which offers the company’s customers the possibility of watching television programs and on - demand content, not only in the traditional way but also from any device, through a modern platform.
In December 2024, the company launched the commercialization of FTTH internet services in the city of Salto. These deployments also took place in the cities of Paysandú and Rivera, implementing the internet licenses obtained the previous year. In the second half of 2024, the company obtained new internet licenses for the areas of Tacuarembó, Artigas, and Paso de los Toros, completing all the cable licenses and transforming them into cable plus internet.
Network and Equipment
Adesol offered services through DTH Platform in Montevideo and the metropolitan area comprising Ciudad del Plata and different locations in the department of Canelones and in rural areas of northern of Uruguay. Adesol also offered services through cable TV in the capital cities of Artigas, Salto, Paysandú, Rivera, Tacuarembó and Paso de los Toros.
In the second half of 2024, FTTH deployment began in the towns of Salto, Paysandú, and Rivera, covering more than 700 blocks. Commercial service was launched in Salto in the last quarter of 2024, with service in Paysandú and Rivera expected to follow in early 2025.
Sales and Marketing
Telecom’s marketing strategy focuses on convergent sales, offering innovative products and services to its customers to complete its ecosystem of services intended to generate greater convenience and satisfaction. Flow continues to evolve its content platform, being a flexible, convenient and accessible product. Both with the possibility of hiring it per day, and with the possibility of using it digitally and without installation, through any device.
As part of Telecom’s strategy, the company is moving forward in providing digital solutions leveraged on B2C connectivity, such as its Fintech Services and smarthome solutions.
Telecom’s marketing activities included advertising on television, radio, newspapers, billboards on the streets and local programming channels offered to customers; increase in online advertising, with the aim of growing digital share; mailing information and special promotional material to current and potential customers; and special events for Telecom’s customers, some of which are sponsored jointly with programming providers.
Suppliers
The company’s major suppliers of PP&E are Huawei International Co. Limited, Huawei Tech Investment Co. LTD Argentina, IATEC S.A., Minerva Networks Italia S.R.L., Newsan S.A., Shenzhen Skyworth Digital technology Co. LTD, Commscope Technologies LLC, Radio Victoria TCL ARG S.A., Corning Optical Communications LLC and Nokia Solutions and Networks OY.
Customer Support
Telecom’s service model focuses on accompanying customers throughout their lifecycle, with the 2024 strategy focusing on self-management, digitization and specialization of human attention, creating specialized attention islands for key issues, avoiding re-contacts and improving customer experience.
As part of its digital and social media strategy, the company promoted digital interaction though WhatsApp and launched a new version of its Mi Personal Flow app, which provides customers with all necessary information to self-manage their products and incorporates AI to better solve service queries.
Likewise, customers can contact by email and chat a virtual assistant through its website, as well as through social networks, such as X (formerly Twitter) and Facebook.
At Telecom, the company provides customer service 24 hours a day, 365 days a year, through various customer service channels: WhatsApp, telephone channels, the app, Facebook, X, and commercial offices, ensuring that customers have a better experience in every contact across all commercial channels. The NPS of the different products, services, and journeys that impact the customer’s life is measured.
Regulatory Authorities
Argentina
The company’s subsidiary, Micro Sistemas, is registered as a PSP (Payment Service Providers) that offer payment accounts with registration for the functions of acceptor and aggregator, as an Interoperable Digital Wallet and as Other Non-Financial Credit Provider and is under the oversight of the BCRA. In addition, it is subject to the terms of Financial Information Unit (FIU - Unidad de Información Financiera) regulations for this type of operations, as it falls within the scope of the terms of Section 20 of Law No. 25,246 (as amended), which provides for the persons obliged to report to the FIU.
Paraguay
The company’s mobile telecommunications services in Paraguay are subject to the authority of the CONATEL. The company’s subsidiary Personal Envíos (which received authorization to operate as an Electronic Payment Company) is supervised by the Central Bank of Paraguay.
Uruguay
The company’s subsidiary Adesol is a related party of Bersabel S.A. and Visión Satelital S.A., entities that own licenses to provide subscription broadcasting services in Uruguay and are subject to the authority of the URSEC.
The United States
The company fixed wholesale telecommunications operations in the United States are subject to the authority of the Federal Communications Commission.
Regulatory Framework
In Argentina, the provision of fixed and mobile telecommunications services, internet services and cable television services (subscription broadcasting services) are highly regulated, and the regulatory framework is continuously evolving. The regulatory framework applicable to the company’s business includes LAD and its amendments; Law No. 19,798 (to the extent it does not conflict with the LAD); the Privatization Regulations, which regulated that process. the Transfer Agreement: the licenses for providing telecommunication services granted to Telecom and the List of Conditions and their respective regulations; and current service regulations.
The LAD provides for a single country-wide license and individual registration for information and communication technologies services (Licencia Única Argentina Digital).
The company sought a precautionary measure suspending the application of the aforementioned ENACOM regulations and Decree No. 690/20. On April 30, 2021, the Federal Court of Appeals for Administrative Matters decided by a majority to grant the requested injunction and ordered the suspension of the effects of Decree No. 690/20 and the ENACOM resolutions adopted pursuant thereto and their inapplicability to the company. This injunction was initially granted for a period of six months and was extended for equal periods, the last extension being granted on February 20, 2024.
According to the LAD, Telecom holds a non-expiring Unique Argentine Digital License (Licencia Única Argentina Digital), which allows Telecom to provide a wide range of fixed and mobile telecommunications services, internet accesses, subscription broadcasting services (by physical and/or radio electric link) and radio electric service of concentration of links.
Other Material Regulations
Telecom is also subject to other material regulations in Argentina, such as the Regulation of ICT Services, the General Rules Governing ICT Service Customers, the Number Portability Regulation, General Rules Governing Interconnection and Access, Quality Rules for ICT Services, National Rules for Contingencies, International Roaming Agreement between Chile and Argentina, Infrastructure Sharing Regulation and Subscription Television Services Regulation, Regulatory Authority’s Penalty, among others.
History
The company was founded in 1979. It was formerly known as Cablevisión S.A. and changed its name to Telecom Argentina S.A. in 2018.
