Anatel May-26 Data: Solid month for AMX and TEF-BZ, TIM still lags; TIM Play launch adds a new revenue and retention lever

研报英文原文证据摘录

Anatel May-26 Data: Solid month for AMX and TEF-BZ, TIM still lags; TIM Play launch adds a new revenue and retention lever

rok and AllTrails were recently added.''

Chile leads the world in relative adoption. The country holds close to 10% of

global connections on this technology, ahead of markets like Canada, the

United States and Japan. This makes Chile the market with the highest take-

up of the service relative to its client base.

Coverage spans the whole country, with limits on device and signal. The

service only turns on when the user is outside 4G or 5G range and has a clear

view of the sky. Access requires a compatible phone with an updated operating

system and features like Roaming and VoLTE switched on.

UBS's take: Neutral for AMX/TEF-BZ/TIM. In our view, Chile will likely serve as a

benchmark for how the D2C service could develop in Brazil going forward,

considering Anatel recently approved D2C spectrum allocation. So far we see D2C

playing a complementary role, working in partnership with carriers. That said, we

believe a standalone satellite mobile service launch would pose a greater risk to the

incumbents, though this is not a scenario under discussion at this stage.

Other news:

SMEs turn to AI for efficiency gains. According to Ecommerce Brasil, a Serasa

Experian survey of 1,565 small and medium companies in Brazil found that

58.7% see productivity gains as the main benefit of AI, followed by task

automation (35.9%) and cost reduction (34.2%). On barriers, 41.3% cited a lack

of knowledge about available solutions as the top obstacle, and 36.4% pointed

to a shortage of skilled staff to implement the tools.

Survey finds 99% of executives expect AI to reduce headcount within two

years. According to Valor, a Mercer Global Talent Trends study surveying more