Cellcard Demonstrates Resilience And Strategic Adaptability In Q3 2024
CAMGSM PLC, commercially known as Cellcard, Cambodia's only homegrown telecommunications operator, has announced its financial results for the third quarter of 2024. Despite a dynamic market, the company has shown resilience and strategic adaptability, achieving significant milestones and positioning itself for future growth.
According to a press release issued by Cellcard on November 20, 2024, the company's strategic initiatives have yielded encouraging results, including its expansion into the home internet market and innovative marketing campaigns. Total assets have reached KHR 2,727 billion, reflecting ongoing investments in network infrastructure and a commitment to expanding footprint and services. Shareholder equity has also grown by 7 per cent to KHR 1,183 billion, underscoring the company's financial stability and strength.
While revenue experienced a slight adjustment this quarter, Cellcard says this strategic repositioning allows the company to adapt to new industry regulations and practices as well as evolving market dynamics, strengthening long-term sustainability and enhancing its competitive edge.
In recent months, Cellcard has focused on delivering more value to its customers through network enhancements, expanded digital services, and superior customer experience. A prime example of this is the company's launch of a flagship Customer Experience Centre in the historic Royal Railway building.
This state-of-the-art centre blends tradition with cutting-edge technology to redefine customer service in Cambodia. Cellcard continues to drive exceptional customer experiences in the flagship store in the heart of the CBD, which is also the locale of numerous real estate projects that will drive increased office, retail, and residential occupancy in the surrounding area.
The company was proud to showcase the inaugural launch of the new iPhone 16 and other Apple products in this space, designed specifically for comfort and ease of product discovery. The centre also offers opportunities to serve new and existing customers, featuring banking services for Wing Bank customers, a Coffee Hub branch, and ticketing for the Royal Railway, all the while showcasing Cellcard products and services.
Cellcard further stresses that its commitment to innovation ensures that customers have access to the latest technology and a superior mobile experience. While maintaining the same price points as other operators, Cellcard pushes to be perceived as a premium brand due to its outstanding customer experience, demonstrating the company's dedication to providing high value affordably.
Cellcard's commitment to customer-centricity was also recognised by Frost & Sullivan with the “2024 Cambodia's Customer Value Leadership Award.” The Frost & Sullivan Best Practices awards recognise companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development.
Frost & Sullivan present the ‘Customer Leadership Award’ to the company that has demonstrated excellence in implementing strategies that proactively create value for its customers, focusing on improving the return on investment that customers make in its services or products. The award recognises the company's unique focus on augmenting the value that its customers receive beyond simply good customer service, leading to improved customer retention and customer base expansion.
Furthermore, Cellcard shared that its dedication to ethical business practices and the growth of Cambodia's securities sector was recognised at the Cambodia Stock Market Exhibition 2024 on October 26, where the company received the ‘Best Corporate Governance Award 2024’ and the ‘Most Profitable Stock Award’. These awards demonstrate Cellcard's commitment to transparency, accountability, and sustainable business practices.
"We are incredibly proud of our team's dedication to providing an exceptional customer experience," said Simon Perkins, CEO of the ICT Division of the Royal Group of Companies. "Our strategic initiatives, including our focus on home internet services and innovative marketing campaigns, are all driven by our desire to meet the evolving needs of our customers. We are committed to exceeding their expectations and contributing to Cambodia's digital transformation journey."
Cellcard affirms that it remains dedicated to delivering exceptional value to its customers, employees, and shareholders, playing a vital role in Cambodia's digital transformation.
This press release was supplied.