Telefónica’s aims for its new IoT, cloud and security unit look challenging
02 December 2019 | Research
"The target of an extra EUR2 billion a year from Telefónica Tech is a sign of the management’s ambition for this new division, but it will be difficult to achieve."
Telefónica announced what is probably its most significant change in strategy in over a decade on 27 November 2019. ‘New Telefónica’ will focus on four countries (Brazil, Germany, Spain and the UK), spin out its units in Latin America into a separate holding company and create an infraco. The most interesting development from a business services perspective is the creation of ‘Telefónica Tech’, a collection of the operator’s security, cloud and IoT and big data assets, focused mostly on the business market.