24 Jun 2014 07:00
24 June 2014
Manx Telecom Plc
(the "Company")
Manx Telecom to launch 4G network
Manx Telecom Plc (AIM: MANX), the leading communication solutions provider on the Isle of Man, announces that it will launch the Isle of Man's first 4G mobile network this summer with a predicted 95% population coverage.
The service will automatically be included in the tariff plans for Manx Telecom customers who are on a 'pay monthly' smartphone plan and with a 4G ready handset. Currently 42% of smartphones owned by Manx Telecom customers are 4G ready and Manx Telecom is running a trade-in scheme for any customers who want to upgrade to a 4G ready smartphone or tablet.
The new 4G network will enable customers to experience speeds up to seven times faster than on the company's 3G network, so a 4G customer will be able to download a song, game or an app in a few seconds rather than the normal two to three minutes it takes on 3G. The new network also has the added benefit of providing better 2G and 3G mobile coverage on the Isle of Man.
Achieving 95% coverage on the Island means that the Isle of Man will be substantially ahead of 4G availability in the UK, which is at best available to 70% of the population as provided by EE in May 2014. In addition, this level of coverage is substantially ahead of its 4G licence commitment, whereby Manx Telecom has committed to achieving a minimum of 33% coverage at launch and 95% two years after launch.
Mike Dee, Chief Executive Officer, commented:
"I'm delighted that we are able to bring 4G to the Isle of Man and with 95% population coverage. The extensive footprint of our 4G network positions Manx Telecom significantly ahead of peers both on the Isle of Man and elsewhere in Europe. It also signals our commitment to ensuring that the Isle of Man remains a leading business and investment hub, with a best in class communications network."
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About Manx Telecom
· Manx Telecom is the leading communication solutions provider on the Isle of Man, offering a wide range of fixed line, broadband, mobile, and data centre services to businesses, consumers and the public sector on the Isle of Man as well as a growing portfolio of innovative hosting and "Smart SIM" solutions to off-Island customers.
· Manx Telecom has a record of innovation, being the first European operator to launch a 3G mobile service and the first in the world to launch a 3.5G mobile service. 4G services will be launched in the summer of 2014, while the Company's high speed VDSL broadband service (Ultima) is available to over 80 per cent of homes on the Island.
· The Company has three data centres, two of which are Tier 3, plus international connectivity and its operations are business-critical to the economic strategy of the Isle of Man.
· One of the largest employers on the Island, Manx Telecom employs over 280 people. The company plays a major role in the wider community through a range of activities, including charitable donations, sponsorships, and corporate social responsibility initiatives.
· The company is proud to sponsor the Manx Telecom Parish Walk, Manx Telecom End2End Mountain Bike Challenge, Team Manx Telecom (Manx Road Club) and Royal Manx Agricultural Show as well as other smaller events. Manx Telecom also donates annually to local causes through the company's "It's our Community" programme.
· The Isle of Man has a resilient and growing economy which has experienced 29 years of unbroken GDP growth. Unemployment is low at approximately 2.4 per cent, and there is a zero per cent corporate tax rate which applies to the vast majority of Manx Telecom's business and means that the Group currently pays no corporation tax on its annual profits.
· Manx Telecom is listed on the Alternative Investment Market of the London Stock Exchange with the ticker MANX.