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Brazilian mobile carrier TIM Participações, a unit of Italy's Telecom Italia, forecasts smartphone users will represent 18% of its client base by the end of the year, up from the current 12%, TIM CEO Luca Luciani said Tuesday.
"Brazil has great potential for smartphones," Luciani said. "As fixed internet services are poor, there's a large untapped market."
As reported earlier, TIM had first quarter net profits of 213mn reais (US$134mn), almost four times higher than year-ago earnings of 54.6mn reais.
At the end of March, TIM had a 25.1% share of the Brazilian market, up from 23.7% a year before.
By Rodrigo Petry