This industry is growing at rapid pace, fueled by the fast advances in technology, as new features are being added almost constantly: longer lasting batteries, internet navigation, video calls, GPS, etc.

Panama's mobile phone penetration stands at 115%, meaning that each Panamanian uses more than one device on average.

Luis La Rocca, Digicel Panama president, "qualifies the growth of this market as monumental".

Source: martesfinanciero.com

More on this topic

+Móvil Hits 2.6 Million Cell Phone Lines

July 2009

Cable & Wireless mobile operator, +Móvil, sold 75.000 cell phones in June 2009.

"+Movil cell phone market share is 57%, and competes with Telefónica, Digicel and Claro Panamá", said Roberto Mendoza, the company's executive director of Corporate Affairs.

+Movil 2.5 million users send 17 million short text messages each month.

Two Cellular Phones Per Panamanian

April 2009

Cell-phone companies have 6.6 million wireless phone numbers allocated, but only 3 million are active.

Through March 2009, Cable & Wireless (C&W) and Telefónica Móviles (Movistar) have 2.7 million lines each, Digicel has 900 thousand and Claro Panama, which has just begun operations, has 300 thousand, according to data from the National Authority for Public Services published by Prensa.com.

Panama: Strong Competition in Cellular Telephone Services

April 2009

The four mobile phone companies will compete for the market with heavy promotions and aggressive strategies in Panama.

Competition between Digicel, Telefónica Movistar, +Mobile Cable & Wireless and Claro in order to attract more customers with prepaid service plans has increased.

More competition will lower the cost of cell phones in Panama

October 2008

The cost of cell phones in Panama is higher than what others in Central America and the Caribbean countries pay.

Digicel and Claro Panama, which obtained cellular licenses, should enter the Panama market in the next few months to start competing with Cable & Wireless (C&W) and Movistar.