New Delhi, Oct 11: The wireless telecom sector is poised for a continuous growth momentum after registering robust increase in its subscriber base in both the GSM and CDMA segments in September, analysts feel.
Piggybacking on plunging handset prices, lower tariff rates and lucrative promotional offers, the Indian cellular service providers added 6.1 million subscribers last month, taking the total subscriber base to 126.7 million.
Analysts at global financial services major Citigroup said today that they remain positive on wireless sector growth.
Citigroup's India based Teleco analyst Rahul Singh said that an average 3.63 million GSM subscriber additions per month exceeds their expectations of 3.4 million monthly additions.
"Despite growth in subscribers being rapid, we believe that structural growth remains intact and execution would be key going forward," he added.
The GSM mobile service provides added a record 4.4 million new subscribers taking their total customer base to 91 million as of September 2006 with a growth of 5.1 per cent.
The CDMA players added 1.7 million users, marking a growth of 4.9 per cent for the month, taking the total user base to 35.6 million.
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