Blue Ocean Coverage Update, page-13

Nah.

When the UK expansion started that was taking a population of 64m compared to the current rolled out Australia (23) + singapore (~4 [as we only turned on the last telco a month ago]) and switzerland (~9) = 36.

UK is close to double the original business.

64/36 = 1.77

As you've said, indonesia has approx 100,000,000 phone users.

100/60 = 1.66

Similar sizes but MBE has doesn't always turn on an entire country all at once. Look at malaysia, we currently have only 1 telco signed up. We've also been in singapore for more than 2 years now, but only recently last month started selling products through StarHub.

To generate the sort of growth we've been experiencing recently, you'd have to expect MBE to continue to sign up telcos in order to get the 1.77 additional potential subscribers - like it did with the UK.

The current sign up of telcos is happening a little too slowly for that to happen.

We've recently signed up 1 Telco in malaysia which has approx 10,000,000 customers. We've also signed up the entire UAE with approx 9-10m. So these should start to provide a little growth soon but i'm not sure it'll be all too noticeable.

So, if they are able to turn Indonesia on all at once, we could get another 2 years of 80% average growth, but i don't think it's likely to happen like that. Perhaps a few really good products launched in Australia and the UK plus a few smaller territories can help keep the pace?