PwC Cyprus: 5G, mergers, and cybersecurity key to telecom competitiveness

PwC Cyprus partner and telecoms lead Nicos Theodoulou on Thursday highlighted key strategies for telecom leaders to remain competitive amid rapid industry changes in the  

“Digital connectivity is more important than ever, especially with the rollout of 5G networks,” Theodoulou said, referencing the latest PwC Global Telecoms Industry Outlook report.  

He pointed out the potential of 5G, which promises super-fast internet speeds, low latency, and extensive device connectivity that could seamlessly integrate smart cities, autonomous cars, and IoT devices.   

“For telecom companies, investing in 5G isn’t just a good idea—it’s a must,” he added, noting that this investment will open new opportunities and help meet the growing demand for high-speed internet.  

The increasingly blurred lines between telecommunications, media, and technology sectors also demand attention, he mentioned.

“Telecom companies are using advanced tech to improve how they deliver content and engage with their audiences,” Theodoulou said, emphasising the importance of technology in enhancing customer experiences.   

He explained that streaming platforms are a perfect example of this blend, using algorithms to offer personalised viewing experiences.

What is more, he mentioned that in order to stay relevant, telecom companies need to adopt a tech-first approach, using data analytics and AI to offer customised services and diversify what they can offer to customers.

On the topic of cybersecurity, Theodoulou highlighted a growing concern. “As more data flows through digital channels, the risk of cyberattacks also increases”, he stated.    

For telecom companies, he continued, protecting customer data and network integrity is crucial. This means investing in strong encryption, continuous monitoring, and proactive threat detection.

Not only does this keep assets safe, but it also builds trust with customers and partners, which is essential for maintaining a reliable telecom network.

Theodoulou also touched on the growing importance of Environmental, Social, and Governance (ESG) considerations in the telecommunications sector.   

“Consumers and investors are increasingly looking for companies that follow sustainable practices and ethical governance”, he said.   

In response, telecom companies are responding by reducing their carbon footprints, using renewable energy, and promoting diversity and inclusion. Incorporating ESG principles not only boosts a company’s reputation but also opens new opportunities for growth and innovation.  

In addition, Theodoulou discussed the strategic role of mergers and acquisitions (M&A) in the telecommunications industry.

He noted that companies use M&A to add new technologies to their capabilities, expand their reach, and achieve economies of scale.

However, he pointed out that the success of these deals depends on how well the companies integrate.

Telecom leaders must focus on aligning cultures, streamlining operations, and retaining top talent to ensure a smooth transition and create value.

He also said that strategic M&A can help telecom companies stay ahead by acquiring new capabilities that drive innovation and growth.

Addressing workforce transformation, Theodoulou said that “the digital revolution is changing the workforce landscape, creating a demand for new skills”.  

In response, he mentioned that telecom companies need to focus on attracting, developing, and retaining talent to stay competitive.

Additionally, he stressed the importance of upskilling and reskilling employees, which is essential to equip them with the necessary knowledge they need to navigate new technologies.

He also explained that fostering a culture of innovation and agility will help organisations adapt quickly to market changes.

“The telecom industry is at the heart of the digital revolution, driven by advancements in connectivity, media convergence, and cybersecurity,” Theodoulou said.

“To thrive in this dynamic environment, telecom leaders must embrace these trends and focus on sustainability, strategic M&A, and workforce transformation,” he added.

“By staying agile, innovative, and customer-focused, telecom companies can unlock new opportunities, drive growth, and shape the future of the digital economy,” Theodoulou concluded.