SINGAPORE, Aug. 23 (Xinhua) -- The mobile market in the Asia- Pacific is the fastest-growing in the world, with connections more than double those of any other market, local media reported on Monday.
A telecoms market report released by Ernst & Young showed that Singapore is one of the most developed market, coming in second behind China's Hong Kong in mobile penetration and fourth in broadband penetration, local newspaper The Straits Times reported.
The Singapore market boasts 140.7 percent and 168.7 percent mobile and broadband penetration respectively, but to remain competitive, telecos need to rethink the way they do business, global deputy telecommunications leader at Ernst & Young Jonathan Dharmapalan said.
Competition in the saturated Singapore market has moved from just being between telecos, to also include technology companies and internet-based players, he said.
Local telecos are also delving into a variety of related services in an effort to differentiate themselves from one another.
The three dominant players: one recently launched a wireless security alarm service, while another launched a Digital Rights Management-free digital music download service, and the third released a number of location-based smartphone applications.
The up-coming next-generation network due to be completed in 2012 will also greatly enhance Singapore's mobile and Internet infraststructure.
The next-generation network, undertaken by the Singapore government, aims to transform the nation into an intelligent nation with ultra-high speed broadband access islandwide.