Hi, Having worked in the Telecoms industry for more than 20 years (MTN, CellC , Vodacom & MTN again) i can tell you that voice revenues will decline year on year. This will include international voice revenue as well. Eventually Teleo operatos will become "dumb pipes" where operational effeciency will come into play. Telecom operators will have to rely on selling data and lots of it whilst keeping operational costs to a mimimum. The saving grace is data usage doubles about every 2 to 3 years. Most of the value added services on the data are provided by OTT players (Google , Facebook , Apple ) and telco operators don't see any of this revenue , hence my reference to "dumb pipe". Another factor limiting growth for Mobile operators would be the rollout of FTTH/B/C (Fiber to home/business and corporates). Once you have fiber to the home you can enable your Wi-Fi device on this Fiber access and not use your mobile data. With Wi-fi hotspots becoming more prevalant, think of free Wi-Fi at Malls, Staduims, Retial shops , coffe shops. This will also eat into data revenues. You can also make free Voice over WhatsApp calls at these free Wi-Fi spots. As more more High end mobiles come to the market and become cheaper think of how this probelm could compound voice revneues. The best placed Mobile operator with 5 to 10 year veiw will be MTN as most of their businesses are in Africa where infrastructure for Fiber and Wi-Fi is non existent (think Nigeria , Cameroom , Uganda , etc. )Consumers in these countries will be "Forced" to use Mobile data. Though the regulatory risks is high in Africa (Nigeria fine).
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