Telenor has pledged to ramp-up investments in key markets this year after reporting a strong final quarter of 2012.
The Norwegian operator giant posted net income of NOK3.2 billion ($582 million) in Q4 reversing a NOK2.7 billion loss a year earlier. Sales rose 2.2 per cent to NOK26 billion, slightly ahead of expectations.
Looking ahead, Telenor CEO Jon Fredrik Baksaas (pictured) said that "we now see the opportunity to accelerate investments to capture market positions and expect capex/sales in the range of 12-14 percent." Sales are expected to grow by between three to five per cent.
The increased investment is likely to focus on markets such as Norway, Thailand and India.
"The launch of 4G services in Norway and acquisition of a 3G licence in Thailand will enable us to introduce even better mobile services to our customers. With the acquisition of new licences in India, we have secured a platform for our future in this growth market," said Baksaas.
"We see smartphone and data demand picking up in Thailand and Malaysia as well as steady operational improvements in Pakistan," he added.
Telenor is proposing a shareholder dividend of NOK6.00 for 2012, an increase of 20 percent compared to 2011.