Vip mobile to invest EUR 30 million in network infrastructureby year's end

The telecom firm Vip mobile announced in a release today that it had invested EUR 15.5 million in Serbia in the first three months of 2015.

Vip mobile Director Andreas Graf explained that most of that money had been spent on preparations for providing the first and the biggest 4G LTE network for customers in Serbia, enabling superior data speeds, the company statement reads.

Vip mobile is going to invest over EUR 30 million by the year's end in the expansion of 4G LTE technology and complete modernization of existing 3G and 2G networks across Serbia, Graf announced.

The director of Vip mobile, a member of the Telekom Austria Group, pointed out that the company had managed to maintain stable business results in the first quarter of 2015.

According to the company data, Vip mobile generated a revenue of RSD 5.5 billion in the first three months of this year, up two percent from the same period last year.

It is also said in the statement that the number of Vip mobile users at the end of March 2015 was four percent bigger than at the end of 2014, whereas the company's market share amounted to 22.5%.

Vip mobile is the largest greenfield investor in Serbia. It has so far invested EUR 854.4 million in operations in Serbia, where it employs 900 people and has a network of 330 points of purchase.

A1 Srbija d.o.o. Beograd

Telekom Austria AG Wien

Andreas Graf

4G LTE network

3G network

2G network

Telekom Austria Group

Vip mobile investment in Serbia