Historical Archive Annual Reports

Annual Report 1998

Telefónica in 1998 went on to manage 49 million customers from a figure of 35 million in 1997, and which has experienced a 14.5% annual growth of net profit following an investment campaign unprecedented in the sector.

Telefónica Investigacióyn Desarrollo, the Telefónica R&D subsidiary, increased its research and development activity by 35% in 1998, its 10th anniversary year.

Telefónica’s International Network benefitted from important international agreements signed in 1998, for the development of submarine cable systems MAYA, which will improve the connectivity between North and South America; and TAT 14, linking Europe and North America. Work has also continued on the deployment of the Atlantis 2 and Columbus 3 undersea cables.