Three years after the merger between True Corporation and Dtac, under a new structure that once included Telenor as a shareholder, the company's landscape is entering another turning point. The recent shareholder restructuring, which reduced Telenor's investment role after the merger deal, has drawn market attention to what the "next era of True" will look like. What will "True's next era" be like?
The direction is becoming clearer according to the goals of Sigve Brekke, who became one of the group CEOs of True Corporation in 2025, assuming the position of Group CEO to set strategic direction after the merger, resetting the telecommunications business from the traditional Telco model to a "Telco-Tech Company" .
Sigve explained frankly that the traditional mobile business is reaching saturation. In the past, telecom operators had a few successful business formulas: build the best network, offer the cheapest packages, or increase the number of SIM cards. But today, those formulas no longer work.
Previously, growth came from acquiring new users, but now the mobile market is quite saturated. Consumers increasingly use global digital platforms, making competitors not just other mobile providers but also technology companies like Netflix, Google, and Apple, who shape users' digital experiences.
The telecom industry is thus undergoing a major transition—from merely connecting people to the internet to playing a deeper role as a digital platform integrated into users’ daily lives. Future growth will come mainly from three areas:
"In the past, we only provided connectivity services, but today we must have a role inside customers' homes, help businesses grow, and offer customers the most suitable services or promotions. AI and data technologies have become the core of the new strategy because they enable the company to deeply understand each customer and provide services that meet individual needs,"
Sigve clarified, illustrating that the telecom industry traditionally measured success by Average Revenue Per User (ARPU) per SIM card, but going forward, the focus will shift to Average Revenue Per Account (ARPA).
This is because one customer may use multiple services with True—mobile, home internet, content, and other digital services. Therefore, it is important to view the customer as a single account and evaluate how extensively they use True's services. The more services a customer uses, the more likely they are to stay longer and generate higher revenue.
For True Corporation, this transformation means the company can no longer simply adjust services or packages but must restructure the organization and business model to operate faster, utilize more data, and simplify the large organization. This concept leads to a new strategy called the "4 Big Moves," which will be the core of the organizational change over the next 3-4 years.
1) Big Move 1: "Customer Experience"
The first pillar is to enhance customer experience through AI-personalized services, increasing satisfaction and retention. True aims to shift from reactive network management to predictive management by using AI to analyze the network in advance, detecting and fixing issues before customers notice.
Another key change is elevating the end-to-end customer experience throughout the service lifecycle by strengthening the True 5G network on the 2300 MHz, 2600 MHz, and 1500 MHz bands to gain advantages in speed, capacity, and nationwide coverage.
They will also restructure regional management by dividing the country into over 6,000 micro-areas, each overseen by a Mini CEO responsible for using local customer behavior data—such as income level, internet usage patterns, and community lifestyle—to tailor marketing and services precisely to that area’s customers.
2) Big Move 2: "Growth"
The second pillar focuses on creating new growth engines centered on two main markets:
3) Big Move 3: "AI-First Organization"
The third pillar involves transforming the company into a technology firm with data and AI at its core. AI will be used in all processes—for example, store staff using AR to display product and customer history, call centers using AI to analyze issues and reduce complaints, and engineers employing AI for predictive network analysis to shorten resolution times. Marketing will leverage AI for hyper-personalization, automatically offering tailored packages and promotions to distinct groups like working mothers or professional gamers.
4) Big Move 4: "People & Culture"
The final pillar focuses on transforming people and corporate culture through a new culture and agile working models. The long-term goal is to build a Customer-Obsessed Startup culture where employees can continuously experiment with new ideas and innovations. They aim to upskill 100% of employees in AI within this year.
The 4 Big Moves strategy is an integrated action plan that translates strategy into tangible results in both financial performance and operational excellence. Sigve summarizes that the vision of becoming a Telco-Tech Company involves using technology to manage customer data for segmentation and offering the best packages.
It also includes using technology to create a seamless experience across True’s various services. Ultimately, competition in the telecom industry will no longer be decided by signal quality alone but by who delivers a superior customer experience, stronger distribution channels, and—most importantly—who can execute faster.
Regarding the major shareholder changes after Telenor announced its exit, selling a 24.95% stake to Arise Digital Technology Co., Ltd., a company owned by Supachai Chearavanont, and simultaneously CP Group reducing its stake from 30% to 20% to invest elsewhere, the market is closely watching the potential impact.
This share sale by Telenor follows a stipulated timeline requiring the Telenor group to hold shares in the new company (TRUE) for at least three years post-merger. It marks Telenor’s official farewell to investment in Thailand after 26 years of business and involvement in building the nation’s communication infrastructure.
Telenor and Arise have agreed on put/call option rights for the remaining 5.35% of TRUE shares to be exercised within two years from the first sale’s closing date. Meanwhile, Supachai Chearavanont has stepped down as CEO of CP Group to become Chairman and CEO of Arise Ventures Group, a private investment company focused on advanced technologies.
Sigve confirmed that these shareholder changes will not affect the company’s direction. Both Telenor and CP Group will continue to support and positively impact the company. CP Group remains a major shareholder and maintains broad business cooperation with True, with synergy continuing to be a key advantage.
True Corporation will work even more closely with CP’s affiliated businesses, including 7-Eleven, TrueMoney, Makro, Lotus's, and the upcoming Virtual Bank, potentially creating a new ecosystem integrating telecommunications, financial services, and retail.
What is happening in Thailand mirrors global trends, where many operators are striving to transform from infrastructure companies into technology companies, using AI, data, content, and digital platforms as new growth engines.
From TelecomAsia to True Corporation, the company now faces its biggest transformation since the merger that reshaped Thailand’s telecom industry. Sigve Brekke’s reset through the 4 Big Moves may be True’s most significant bet in 36 years.
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