MiMedia Holdings Ltd. announced that MiMedia has successfully integrated and launched in market with Telcel Radiomovil Dipsa, S.A. de C.V. ("Telcel"), the largest telecom carrier in Mexico and one of the largest carriers in Latin America. Telcel is the largest subsidiary of parent company América Móvil, which is the largest telecom carrier in Latin America and the fourth largest in the world in 2022 in terms of number of subscribers.1 In its RTO filing statement, MiMedia previously announced that the Company signed a global Distribution Agreement (the "Agreement") with Telcel. Since 1989, Telcel has been the leading telecommunications and value-added services company in Mexico. Mexico represents América Móvil's largest market in terms of users, with Telcel covering more than 95% of the population and servicing more than 80 million users2.
Mexico is also where America Móvil bases its global headquarters. Founded by Carlos Slim, América Móvil is the leading integrated telecommunications services company in Latin America with leading market presence in 23 countries in the Americas and Europe under its primary brands Telcel and Claro, among others. In 2021, América Móvil reported over 287 million wireless subscribers globally and $41.6 Billion USD in revenue.3 Telcel accounted for $12.2 Billion USD or 29% of América Móvil's total revenue in 2021 via its wireless segment.4 MiMedia is a next generation consumer cloud platform that partners with smartphone makers and telecom carriers globally to provide their consumers with a unique personal cloud experience that enables all types of personal media to be secured in the cloud, accessed seamlessly, across all devices and operating systems and at any time. MiMedia's plan will be to download its platform directly onto 2 million Telcel smartphones in Mexico. The Company's consumer cloud platform will provide Telcel with a churn-reducing product, immediate market differentiation and multiple high-margin and recurring revenue streams.