Telecommunications giant América Móvil said on Wednesday that it expects to cover some 100 cities in Mexico with 5G technology by the end of the year.
América Móvil, controlled by the family of Mexican billionaire Carlos Slim, announced in February the launch of its 5G network in 18 locations in the country,
At the time, the company said it aimed to cover 120 cities by the end of 2022 to kick off what regulators have said will become the largest commercial network for the new technology in Latin America.
In addition to Mexico, the firm has launched some 5G services in the Dominican Republic and Peru, CEO Daniel Hajj said in a call with analysts about first-quarter results.
"It's working well. I think 5G will give us better ARPU (average revenue per user) for our potential customers," he said.
Hajj detailed that the company's strategy with the new technology was to "get more for more," meaning customers pay more for 5G data, but clarified that plans could vary by country.
The executives also said that the company's capital expenditures will reach $8 billion in 2022, the same figure as in 2021.
America Movil shares fell 1.5% on Wednesday morning after the release of its quarterly results on Tuesday.
