NUR-SULTAN, Kazakhstan — Satellite fleet operator Thaicom reported a 21.5% drop in satellite revenue in 2019 as both its conventional and broadband businesses suffered customer churn and pricing pressure.

Thaicom did not promise much of an upturn in 2020 but said the customer churn in 2019 was concentrated in the first three months of the year and stabilized in the last six months.

Full-year satellite and related revenue was 4.6 billion Thai baht, or $153 million at Dec. 31, 2019, exchange rates.

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