In a journey that began just over two decades ago, Vivo accomplished one of the most challenging transformations in the Brazilian telecom sector: from the heir of a state-affiliated firm with an outdated technology legacy to an innovative and lucrative company in a highly competitive landscape.

The transition has not only repositioned the company but also turned it into one of the largest tech companies in Brazil, migrating from a traditional voice service provider to a multidimensional platform of connected solutions.

Leading its sector, Vivo ended 2024 with investment returns of 9.9%- a percentage above that of its competitors – and has maintained its leadership in the postpaid segment, with a 41.3% market share.

During this period, total revenue reached R$55.8 billion, representing a 7.2% increase over the previous year. Meanwhile, liquid profits stood at R$5.5 billion, a 10.3% increase compared to 2023.

According to Christian Gebara, the company’s CEO, the competitive advantage that places Vivo at the top of its sector is sustained by “the perfect combination between a robust cover and unique pricing proposals”.

Investments and portfolio expansions

This was a result of continuous annual investment in infrastructure, amounting to R$9 billion. “In 2024 alone, it was R$9.2 billion. Today, our 5G network is in 633 cities, covering 65.3% of Brazilians”, celebrates the executive.

Without forgetting its traditional core, Vivo has diversified with the same appetite for its digital service portfolio in areas such as healthcare, finance, entertainment, and IoT, which accounted for 10.2% of 2024’s total revenue.

“To give you an idea, we have already conceded over 1 billion reais in personal loans, since we started acting in this area, in October 2020”, tells Gebara.

In the field of open innovation, Vivo Ventures' corporate fund has made nine contributions to startups. Around 63% of them have already established formal contracts with the operator, creating synergies in sectors such as telemedicine and open finance. In 2024, businesses with this ecosystem have added up to R$130 million.

The company is a standard for its performance in ESG pillars. The last venture was the announcement of the project Floresta Futuro Vivo (Vivo’s future forest), dedicated to the protection of biodiversity and to the restoration of 800 hectares in the Amazon over the next 30 years – one of the most significant known long-term corporate commitments to forest care in the region.