InscoBi "Pritelecom Sustains Sales Growth for 3 Consecutive Quarters... Aiming for Performance Growth through Overseas Market Expansion"

Subsidiary Pritelcom of KOSPI-listed company InscoV continues its growth momentum with a significant increase in sales.

InscoV announced on the 22nd that Pritelcom's sales in the first quarter of 2024 reached 15.1 billion KRW, up 17.2% from 12.9 billion KRW in the same period last year. Quarterly sales have been rising for three consecutive quarters since the third quarter of 2023.

In particular, the number of subscribers as of the end of March 2024 increased by 9.2% compared to a year ago, reaching approximately 510,000, accounting for 5.6% of all budget phone subscribers. Among small and medium budget phone operators, it has firmly maintained its dominant position in the market.

The company is achieving remarkable results in its overseas USIM business this year. Roaming has long been considered a weak point for budget phone services. Pritelcom, recognizing this, quickly commercialized products tailored to traveler demand by sourcing local SIM cards popular among practical travelers, resulting in a tenfold increase in sales over the past year.

Pritelcom’s overseas USIM offers extensive coverage tailored to domestic travelers’ needs, including the US, Europe, seven Asian countries (Vietnam, Thailand, Japan, the Philippines, Singapore, Hong Kong and Macau, Malaysia), as well as Australia, Guam, and Saipan. It is uniquely competitive in the industry by selling couple, friend, and family sets according to travel purposes and data needs. Additionally, differentiated strategies such as providing overseas USIM promotions exclusively for Pritelcom subscribers have further enhanced its competitiveness.

Furthermore, with the recent smartphone trend shifting towards eSIM-based devices that eliminate physical SIM cards, Pritelcom plans to rapidly expand its eSIM services, which were previously considered relatively weak in the budget phone market.

The company plans to launch an eSIM-exclusive app this summer in partnership with global eSIM providers Billion Connect, WorldMove, and Fullerton. Targeting travelers in their 20s and 30s who value rational and efficient consumption, the company aims to offer personalized eSIM services under the motto “Easy travel, enjoyable travel, travel to brag about.” By fully leveraging the advantages of eSIM, which can be used immediately without the hassle of USIM delivery and roaming, Pritelcom plans to actively target the younger user base.

The company is also preparing to directly enter overseas markets for the first time in the budget phone sector. Pritelcom is pursuing entry into the MVNO business through direct partnerships with major North American telecom companies in the second half of the year. While overseas telecom services have so far focused on short-term users such as travelers, the company plans to provide services to overseas Koreans, international students, and expatriates in the future. This is expected to benefit users who wish to subscribe to domestic telecom services requiring personal authentication via SMS but must join local telecom providers due to long-term stays.

A company official said, “By entering the North American market, overseas Koreans residing long-term will be able to conveniently use domestic services,” adding, “We expect an additional sales increase of approximately 50 billion KRW over the next five years.”