Penelitian ini menganalisis exit strategy perusahaan telekomunikasi dari industri yang sedang menurun dengan mengambil studi kasus keluarnya PT Telekomunikasi Indonesia Tbk (Telkom) dari industri CDMA (code division multiple access). Penelitian menggunakan pendekatan post positivis dengan metode pengumpulan data campuran antara kuantitatif dan kualitatif. Penelitian ini mengacu pada pendapat Porter yang dimodifikasi mengenai strategi bersaing dengan fokus membahas exit barrier dan upaya mengatasinya.Penelitian menemukan bahwa perkembangan ekosistem teknologi CDMA global, penurunan jumlah pelanggan Flexi, penurunan pendapatan, serta kerugian usahatelah mendorong Telkom untuk keluar dari industri CDMA. Adapun hambatan keluar yang dihadapi mencakup aset berupa infrastruktur, lisensi dan frekuensi, biaya terkait SDM dan pelanggan, hambatan emosional karyawan dan manajemen, hambatan pemerintah dan sosial terutama terkait dengan aspek politik sebagai BUMN, serta mekanisme penjualan harta kekayaan. Hambatan berupa aspek politik merupakan hambatan terbesar.Telkom dapat mengatasi berbagai hambatan keluar karena dukungan pemerintah melalui penataan frekuensi, memiliki beragam portofolio bisnis sehingga mudah dalam memindahkan SDM, dan Telkom memiliki anak usaha yang kuat di bidang telekomunikasi nirkabel.

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This research analyzes the exit strategy of telecommunication companies from a declining industry with a case study on the exit of PT Telekomunikasi Indonesia Tbk. (Telkom) from code division multiple access (CDMA) industry. The research uses a post positivist approach with a mixed data collection method between quantitative and qualitative. This research refers to modified Porter?s notion of competitive strategy with a focus on discussing exit barrier and effort to overcome the barrier.

This research found that Telkom exited from CDMA industry due to the development of global CDMA technology ecosystem along with the declining number of Flexi subscribers and revenue as well as loss of business. Meanwhile, the exit barriers faced by the company include assets such as infrastructure, license and frequencies, human resources and customer-related cost, employee and management emotional barriers, government and social barriers primarily associated with political aspect as a state-owned company, and mechanism of asset sales. Political aspect became the biggest barrier.

Telkom was able to overcome the exit barriers due to government support through the arrangement of frequency alocation. Moreover, the company has a diverse business portfolio to facilitate redeployment of human resources, and the company has a strong subsidiaries in the field of wireless telecommunication.