Telstra Raises Mobile Prices Amid Growing Network Demand
By Stuart Condie
SYDNEY--Telstra will raise prices for its postpaid and prepaid mobile services during its current fiscal half, saying it needs to keep investing in technology to meet growing demand.
Australia's largest telecommunications provider on Tuesday said that it would raise monthly prices on most mobile plans by between 2 and 4 Australian dollars (US$1.35-US$2.70). In May, Telstra scrapped inflation-linked annual price rises, citing a need for greater flexibility.
Telstra, which will raise postpaid prices on Aug. 27 and prepaid prices on Oct. 22, said that traffic on its mobile network had increased more than threefold over the last five years and was now growing at an annual rate of about 20%.
"Telstra has balanced cost of living pressures it knows some of its customers are experiencing, with its need to continue to invest to manage technology evolution and continued strong customer demand on its mobile network," Telstra said.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
July 08, 2024 18:48 ET (22:48 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
The 10 Best Companies to Invest in Now
-
New 4-Star Stocks
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth