Mobile Services was Millicom International Cellular’s largest revenue line in fiscal 2025, bringing in $6.52B of $11.59B (56%).
| Products and services [axis] | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | — | — | — | — | |||||
| Mobile Services | $5.83B | $5.90B | $6.24B | $6.52B | |||||
| Fixed & Other Services | $4.29B | $4.38B | $4.35B | $4.14B | |||||
| Cable & Other Fixed Services | — | — | — | — | |||||
| Telephone & Equipment | $908.00M | $822.00M | $774.00M | $734.00M | |||||
| Other | $138.00M | $130.00M | $168.00M | $196.00M | |||||
| Other Services | — | — | — | — | |||||
| Total | $11.17B | $11.23B | $11.53B | $11.59B |
Millicom International Cellular brought in $11.59B from its four revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 0.5% from $11.53B in fiscal 2024. Mobile Services was the largest at $6.52B (56.3%), ahead of Fixed & Other Services at $4.14B (35.7%) and Telephone & Equipment at $734.00M (6.3%). The remaining revenue line, Other, brought in $196.00M.
Compared with fiscal 2024, Mobile Services grew fastest, up 4.5% to $6.52B, while Telephone & Equipment fell the most, down 5.2% to $734.00M. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $11.17B to $11.59B, a compound annual growth rate of 1.2%. Mobile Services' share of the total rose from 52.2% to 56.3%.
Over Time was Millicom International Cellular’s largest revenue line in fiscal 2025, bringing in $6.52B of $7.25B (90%).
| Timing Of Transfer Of Goods Or Services | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Over Time | $5.83B | $5.90B | $6.24B | $6.52B | ||||
| Point In Time | $908.00M | $822.00M | $774.00M | $734.00M | ||||
| Total | $6.74B | $6.72B | $7.01B | $7.25B |
Millicom International Cellular brought in $7.25B from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That is less than the $11.59B it reports by products and services [axis], so these revenue lines do not cover all of its revenue. Over Time was the largest at $6.52B (89.9%), ahead of Point In Time at $734.00M (10.1%).
Compared with fiscal 2024, Over Time grew 4.5% to $6.52B, while Point In Time fell 5.2% to $734.00M.
Colombia was Millicom International Cellular’s largest region in fiscal 2020, bringing in $2.69B of $7.61B (35%).
| Geography | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 |
|---|---|---|---|---|---|
| Colombia | $3.48B | $3.32B | $3.06B | $2.69B | |
| Paraguay | $1.32B | $1.36B | $1.22B | $1.09B | |
| Bolivia | $1.11B | $1.23B | $1.28B | $1.17B | |
| El Salvador | $844.00M | $810.00M | $772.00M | $778.00M | |
| Tanzania | $768.00M | $798.00M | $764.00M | — | |
| Tanzania (Excluding Zantel) | — | — | — | — | |
| Panama | — | $34.00M | $950.00M | $1.17B | |
| Chad | — | — | — | — | |
| Costa Rica | $306.00M | $310.00M | $306.00M | $280.00M | |
| Nicaragua | $26.00M | $26.00M | $314.00M | $440.00M | |
| Other Operations | $14.00M | $8.00M | $8.00M | -$4.00M | |
| Total | $7.87B | $7.89B | $8.68B | $7.61B |
Millicom International Cellular brought in $7.61B from its eight regions in fiscal 2020, the year ended December 31, 2020. Millicom International Cellular regrouped these regions after fiscal 2019, so the total does not compare directly with that year's $8.68B. Colombia was the largest at $2.69B (35.4%), ahead of Panama at $1.17B (15.4%) and Bolivia at $1.17B (15.3%). The other four regions brought in $2.59B combined.
Compared with fiscal 2019, Nicaragua grew fastest, up 40.1% to $440.00M, while Colombia fell the most, down 12.1% to $2.69B.
Millicom International Cellular began breaking out Panama in fiscal 2018, when it brought in $34.00M. Millicom International Cellular stopped reporting Tanzania as a separate region after fiscal 2019, when it brought in $764.00M. The total is net of Other Operations, which took $4.00M off revenue in fiscal 2020.
Millicom International Cellular (TIGO) reports its revenue by products and services [axis], by timing of transfer of goods or services and by geography. In fiscal 2025, Mobile Services was its largest revenue line, bringing in $6.52B (56.3% of the total), followed by Fixed & Other Services at $4.14B (35.7%).
Mobile Services was Millicom International Cellular's largest revenue line in fiscal 2025, bringing in $6.52B, or 56.3% of the $11.59B total across its four revenue lines.
Colombia was Millicom International Cellular's largest region in fiscal 2020, bringing in $2.69B, or 35.4% of the $7.61B total across its eight regions.
Among Millicom International Cellular's revenue lines that make up at least 2% of revenue, Mobile Services grew fastest in fiscal 2025, up 4.5% from $6.24B to $6.52B.
Every figure comes from Millicom International Cellular's annual financial filings, as reported. Each line keeps the name Millicom International Cellular gives it, and years follow its fiscal calendar.
Millicom International Cellular's revenue by products and services [axis] goes back to fiscal 2017, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.