Friday, May 14, 2010

Cell phone sales up in North Korea despite currency revaluation

Koryolink, North Korea's only 3G cellular operator, saw sales more than double in the first three months of this year as it expanded its network coverage and enjoyed continued demand for its service. The Egyptian company, Orascom Telecom, owns 75 percent of Koryolink.

Quarterly revenues reflect a jump of 102.5 percent, even with sales being hit by North Korea's revaluation of its currency.

Subscribers to the network are divided by class or type of customer with some unable to place calls to others. Most calls are subject to monitoring by the state's security services as part of an extensive domestic intelligence gathering program.

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