KUALA LUMPUR, March 19 – XOX Bhd is on track to achieve its target of getting two million active subscribers this year while continuing its growth momentum after achieving a 260 per cent growth last year, its Group Chief Executive Officer, Ng Kok Heng said.
He said the company had so far achieved about 1.1 million active subscribers from 850,000 until the end of last year and by attracting at least 100,000 subscribers a month XOX hoped to achieve the target. Describing XOX as an innovative brand and most competitive in terms of offerings, he said it was successful in attracting prepaid customers which make up 98 per cent of its subscribers.
“The company has been active in the mobile space and has started promoting its brand more seriously although it is not as big as the giant telcos. We are focusing on niche customers and our target is the Chinese youths,” he told reporters after announcing its collaboration with concert management company Galaxy Group here yesterday.
Ng said XOX would be sponsoring concerts from Hong Kong and South Korea in promoting its product as a youthful, vibrant and cool brand. Ng said that the unconventional approach works for XOX. He said they will found the entertainment business to have positive influence on our core business and branding.
On its postpaid segment, he said it was expected to gain traction in the second half of this year after its proposal on a profit-sharing arrangement with customers gained momentum. Recently, the company raised about RM41 million to support its marketing drive by issuing rights issue with warrant, he said.
“Even though undersubscribed, it was above the expectation of RM35 million. In the meantime, XOX will be looking into ways to reward its subscribers, apart from enhancing its information and technology (capability) to provide better services to customers,” he added.
