Over the observed period, Telekom was the leading mobile operator in Hungary. In the second quarter of 2023, it accounted for 46 percent of the market, while Yettel, formerly known as Telenor and Vodafone ranked in shared second place with a 26 percent market share.
Hungary’s most successful telecommunication’s company was founded in 1989 and remained in total state ownership until 1993. Today the company is a subsidiary of Deutsche Telekom, as in 1995 MagyarCom, a consortium formed by Deutsche Telekom and Ameritech International bought into the company a share of 30.1 percent for 875 million USD. At the time, this had been Central and Eastern Europe’s largest privatization. In the first quarter of 2022, Magyar Telekom generated revenue worth 176 billion Hungarian forints.
In 2022, smartphone penetration rate was measured at over 76 percent in Hungary and is expected to reach more than 81 percent by 2028. When it comes to smartphone usage, according to the findings of a survey, Hungarians’ most common activities using smartphones included browsing the internet, messaging, and checking the weather forecast.