Telecom companies from emerging markets navigated the rough economic waters far better than their peers in developed markets, and they are starting to expand outside their home turf, according to Oliver Wyman’s 2009 Communications, Media, and Technology State of the Industry Report.

While 2008 was an annus horribilis for the communications industry worldwide (which includes the fixed, mobile, and cable sub-sectors), a handful of companies, especially in emerging markets, were able to post outstanding performance in Oliver Wyman’s Shareholder Performance Index (SPI). Top-performing communications companies include Bharti Airtel of India, Chunghwa Telecom of Taiwan, Starhub of Singapore, and Maroc Telecom of Morocco. The fixed and mobile market value in China alone grew from 7% of the communications sector market value total to 16% in 2008, driven in large part by China Mobile, which now has a higher market cap than Microsoft.
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