The Latvian incumbent telco Lattelecom will be rebranded SIA Tet on April 1.
Commenting on the development, Juris Gulbis, the company’s chairman of the board, said: “This is not just a change of name, but a solid, ambitious business strategy for the next three years and a change in values. Tet will always be the man, the improvement of his quality of life and technological solutions for the everyday needs of the technology and entertainment company Tet. At the same time, Tet will engage and explore the needs of people with the ambition to create innovative world-class products”.
Lattelecom notes that its turnover reached €212 million in 2018, or 8% more than the previous year, with service exports to outside Latvia accounting for 10% of the total.
Its profits amounted to €42 million and investment in services and development €27.2 million. At the same time, the company paid €46 million in taxes.
One of the highlights at Lattelecom in 2018 was the launch of its new interactive TV service Helio.
