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SMALL BUSINESS
America Movil: prepaid sales to grow with economy
AP ONLINE
posted: 31 DAYS 11 HOURS AGO
MEXICO CITY (AP) — Mobile phone provider America Movil SA says it is confident that slumping prepaid sales in Mexico will recover as the economy improves.
Chief Executive Officer Daniel Hajj says handsets have become too expensive for prepaid customers, who are usually poorer that long-term subscribers.
He told analysts during a conference call Tuesday that when the economy recovers "we're are going to have growth again in prepaid."
America Movil, Latin America's largest mobile phone carrier, lost 38,000 prepaid clients in Mexico during the third quarter.
American Movil shares were down 3.9 percent to 29.50 pesos during trading Tuesday.
Third quarter profits rose 50.6 percent, helped by strong sales in Brazil and foreign exchange gains.
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