One of Türkiye's leading telecoms and technology companies Türk Telekom this week announced its earnings report that wrapped up a record growth in its mobile segment.
Türk Telekom’s consolidated revenues increased by 18.3% from a year ago to TL 45.6 billion ($1.18 billion), while earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 26.5% to TL 17.9 billion.
The EBITDA margin improved by 260 basis points compared to the previous year, reaching 39.3%. The company's net profit in the January-March period surged by 45.2% to TL 5.1 billion.
Türk Telekom also increased its investments significantly in the first quarter of 2025, spending TL 8 billion, a 27.7% rise from the same period last year.
Reflecting its continued focus on customer satisfaction, the total number of subscribers rose to 53.6 million during the first quarter.
Elaborating on the results, Türk Telekom CEO Ümit Önal called it a "spectacular" start to the year primarily driven by the maintained strength in fixed internet and mobile performances.
"The ongoing disinflation process has nicely supported the operational performance along with a strong revenue generation versus a relatively mild opex evolution in the first quarter, despite the regular personnel salary adjustment we implemented at the beginning of the year," Türk Telekom Önal said.
"We have been closely watching the recent developments and market volatility to assess their potential impact on the subscriber behavior and our businesses, which has seemingly been absent so far," he added.
Türk Telekom remains "confident" about the 2025 guidance it shared earlier, said Önal, still adding that that they remain "alert on both the local and global news flow ahead to prepare ourselves for different scenarios from our base case."
The report showed Türk Telekom's fiber network reached 482,000 kilometers, while the number of households covered increased to 33.2 million.
The share of fiber subscribers among total fixed broadband users rose from 85.7% to 90.1% compared to the same period last year.
By Q1 2025, Türk Telekom's fiber network reached 482,000 km, covering 33.2 million households. The share of fiber broadband subscribers grew to 90.1%, up from 85.7% last year. Total subscribers climbed to 53.6 million.
The company's total subscribers climbed to 53.6 million, marking continued customer growth.
The company also recorded its strongest first-quarter performance in mobile subscriber acquisition since 2014. Over the last 12 months, the net gain in postpaid subscribers reached 2.1 million, a historic peak.
In the Mobile Number Portability (MNP) market, Türk Telekom remained the most preferred operator, maintaining its leadership position in this segment.
Önal went on to highlight the company’s success in mobile operations.
"The first quarter exceeded expectations in mobile growth. With 511,000 net additions, our total mobile subscriber base reached 27.9 million. The postpaid segment maintained strong momentum with a net gain of 593,000 subscribers, reaching its highest quarterly performance since the last quarter of 2023," he noted.
"With high-quality infrastructure and a customer-centric approach, we aim to sustain this upward trajectory in mobile."
The CEO emphasized Türk Telekom's preparedness for 5G, supported by the company's nationwide fiber network.
"Our fiber network, which extends to every corner of all 81 provinces, provides the robust infrastructure essential for next-generation technologies like 5G and beyond. We have connected 54% of our LTE base stations with fiber, a ratio exceeding the 2030 target set for Europe," he explained.
By integrating the power of fiber to mobile, he said the company has initiated the era of Fiber Mobility, which guarantees a smooth transition to 5G.
"Our pioneering efforts include advancements in remote surgery, smart agriculture, culture, arts and sports. For us, 5G is not just a technological upgrade but a vital tool for shaping Türkiye's stronger future. All our investments and preparations align with this vision," Önal said.
Önal also emphasized the company’s role in shaping Türkiye’s digital future.
"Beyond being a telecommunications company, we continue to operate as a technology company leading Türkiye's digital transformation. With our innovative vision and technological expertise, we keep undertaking projects that accelerate digital transformation in every corner of Türkiye," he said.
"We started the year with a strong performance in both fixed broadband and mobile, maintaining our strength. We will continue working with full force toward the goal of a Türkiye that produces and exports technology, and to assume leadership in regional digital transformation."
Each major acquisition in Türkiye boosts the ecosystem’s confidence, and global ride-hailing and delivery giant Uber's latest move follows that trend.
Uber announced this week it would acquire an 85% stake in Trendyol Go, the food and grocery delivery arm of Türkiye's e-commerce pioneer Trendyol, for $700 million.
It follows Uber's previous notable acquisitions, including Careem in the Middle East for $3.1 billion and a 51% stake in Latin America’s Cornershop.
The acquisition of majority stake in Trendyol Go is considered part of Uber's goal to expand into high-growth potential markets outside North America.
The deal positions Trendyol Go nearly at unicorn valuation status, underscoring the increasing global interest in Türkiye's dynamic tech ecosystem.
Trendyol Go boasts a network of 19,000 couriers and partnerships with more than 90,000 restaurants and markets. The company fulfilled over 200 million orders in 2024 and achieved approximately $2 billion in gross booking volume.
Uber stated that Trendyol Go will retain operational independence for the time being, while gradually incorporating Uber Eats' features into its platform.
In the international press, this acquisition was regarded as part of Uber's growth strategy. Specifically, it was interpreted as a reflection of Uber's efforts to enter new markets due to saturation in the North American market. Trendyol Go is believed to have attracted Uber’s attention due to its courier and customer network.
Uber has previously made several high-profile acquisitions aimed at consolidating its global logistics and delivery footprint. It acquired Careem in 2019 for $3.1 billion and bought a 51% stake in Cornershop in 2019. It had sold Uber Eats India to Zomato in 2020.
In a move to empower innovation-driven health care ventures, Istanbul Technical University (ITÜ) ARI Teknokent, Türkiye's leading technology entrepreneurship hub, and AstraZeneca, a global biopharmaceutical leader, have launched a strategic collaboration to support startups developing cutting-edge health technologies.
The partnership aims to accelerate the growth of health care startups and enhance Türkiye's potential in the field of health technologies.
AstraZeneca Türkiye, known for its science-based approach and patient-centric vision, will provide mentorship and expert support to entrepreneurs operating within ITÜ ARI Teknokent’s incubator, ITÜ Çekirdek.
The collaboration merges AstraZeneca’s global health care expertise with ITÜ ARI Teknokent’s robust entrepreneurial ecosystem, creating fertile ground for sustainable and impactful innovations in the health sector.
Startups selected under this partnership will have the opportunity to develop scientific and patient-focused solutions in key therapeutic areas such as oncology, cardiovascular diseases, respiratory conditions, metabolism, and rare diseases.
Through AstraZeneca’s AZ Lab program, participants will receive comprehensive support covering product development, regulatory processes, market access, and mentorship.
Combining AstraZeneca’s international experience in pharmaceuticals and biotechnology with ITÜ Çekirdek’s globally recognized incubation infrastructure, the program is designed to bring viable, scalable, and sustainable health projects to life.
Entrepreneurs interested in applying can do so through the official website, itucekirdek.com, until May 12.
Yağız Aydemir, board member and director of information technologies and digital at AstraZeneca Türkiye, said innovation is embedded in the company's DNA.
"As AstraZeneca Türkiye, we have a vision of leading the development of our country’s healthcare ecosystem through innovation. In line with this vision, we highly value the AZ Lab program, which we will carry out in collaboration with ITÜ Çekirdek, one of the world's leading incubation centers," said Aydemir.
"We invite all entrepreneurs working in the health care field to apply to the AZ Lab program and contribute to the process with their solutions that will create value for patients."
Professor Attila Dikbaş, general manager of ITÜ ARI Teknokent, echoed this sentiment and underlined the transformative potential of the initiative:
"As ITÜ ARI Teknokent, this collaboration with AstraZeneca, a key cornerstone in the fields covered by 'Lifetech,' one of our 2025 focus areas, will enable health care entrepreneurs to gain quicker access to knowledge, experience, and a global vision," Dikbaş said.
"We are very excited to embark on this global journey together.
GEN Türkiye has launched GENUp, a specialized acceleration program tailored for scale-ups with global ambitions, unveiling it during a launch event attended by key stakeholders from the startup ecosystem.
The program is designed to support growth-stage startups that have already secured investment and are preparing to scale beyond Türkiye.
Eight startups from diverse sectors, including artificial intelligence, sustainability, the sharing economy, health, education, and retail technologies, were selected for the program.
The cohort includes Varsapp, Sertifier, Harcy, Kidolog, The Good Wild, Swatchloop, Branchsight and Beespenser.
Nevzat Aydın, chair of the board at GEN Türkiye, emphasized the lack of tailored programs for scale-ups stage startups, saying that the new initiative would provide entrepreneurs with mentorship, training and international networking support.
Additionally, Case Studio sessions will foster experience-sharing among co-founders and offer a platform for solving challenges faced by entrepreneurs.
As part of the program, entrepreneurs will receive training on marketing, investment management, team leadership, taxation, legal matters, product development and international expansion. Each startup will also benefit from 10 hours of one-on-one mentorship. At the end of the training and sessions, the metrics of participating startups will be monitored for six months.
GEN Türkiye Board Member Tal Garih stressed that startups will have the opportunity to develop proof of concept and pilot projects during the program, with the goal of accelerating sales and investment rounds.
