TDS Telecom to launch mobile phone product

Rhea-AI Summary

TDS Telecom, based in Madison, Wisconsin, is set to launch a new mobile phone product, expanding into the Mobile Virtual Network Operator (MVNO) market through partnerships within the National Content & Technology Cooperative (NCTC). The product, branded as TDS Mobile, will initially be available exclusively to TDS internet customers before a broader rollout. TDS Mobile will leverage a nationwide 5G network, promising extensive coverage at competitive prices. Partnering with Reach, a software-as-a-service platform, TDS aims to simplify and expedite the product launch. The announcement aligns with TDS Telecom's strategy to diversify its service portfolio and enhance market presence. Detailed product information and customer notifications will be forthcoming.

Positive

• TDS Telecom enters the MVNO market, potentially diversifying revenue streams.
• Partnership with Reach to leverage advanced platform technology for a seamless product launch.
• Utilization of a national 5G network ensures extensive coverage for TDS Mobile.
• Initial exclusive offer to existing internet customers may strengthen customer loyalty.

Negative

• The competitive MVNO market could pose challenges for TDS Mobile's market penetration.

MADISON, Wis., June 27, 2024 /PRNewswire/ -- TDS Telecommunications LLC (TDS Telecom) is gearing up to launch a mobile phone product. The Madison, Wisconsin-based company has come to terms with Reach, a leading software-as-a-service platform for launching network-based services with speed and simplicity.

TDS Mobile will be covered by a national 5G mobile network as the company enters the Mobile Virtual Network Operator (MVNO) market through the established National Content & Technology Cooperative (NCTC) partnerships.

Initially, TDS Mobile will be offered exclusively for internet customers in many of its service areas before making it widely available. TDS will begin notifying eligible customers about the new product offerings soon.

"We are excited to add mobile to our portfolio as we continue to deliver on our promise of offering reliable, high-quality products and services to our customers," said Shane West, TDS Telecom Chief Operating Officer. "TDS Mobile will feature big-carrier coverage from your neighborhood internet service provider – at a price you'll love."

"TDS Telecom's decision to enter the mobile market aligns perfectly with our mission to simplify and accelerate network-based service launches. We are thrilled to partner with TDS Telecom and support their commitment to delivering exceptional value and high-quality service to their customers through our innovative Reach platform," Reach CEO Harjot Saluja said.

TDS Telecom believes now is the right time to introduce the product and is excited to leverage Reach's technology. As the company begins rolling out the product, more details will be announced in the coming months.

"TDS Telecom is a trusted brand associated with high-quality communications services and value-based pricing," West said. "We believe competition is incredibly powerful and adding a mobile offering will strengthen our market presence."

Eligible customers should watch for future communications and visit tdstelecom.com for further updates.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This communication contains certain forward-looking statements about Telephone and Data Systems, Inc. (TDS), including its subsidiary TDS Telecom and its plans to launch a mobile phone product. Forward-looking information includes all statements about the company's plans, beliefs, estimates, and expectations. These statements are based on current estimates, projections, and assumptions, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important factors that may affect these forward-looking statements include, but are not limited to: intense competition; the ability to attract people of outstanding talent throughout all levels of the organization; TDS' smaller scale relative to larger competitors; changes in demand, consumer preferences and perceptions, price competition, or churn rates; advances in technology; impacts of costs, integration problems or other factors associated with acquisitions, divestitures or exchanges of properties or expansion of TDS' businesses; the ability of the company to successfully construct and manage its networks; difficulties involving third parties with which TDS does business; uncertainties in TDS' future cash flows and liquidity and access to the capital markets; the ability to make payments on TDS indebtedness or comply with the terms of debt covenants; the effect on TDS' business if the collateral securing its secured term loan is foreclosed upon; conditions in the U.S. telecommunications industry; the value of assets and investments; the state and federal regulatory environment; pending and future litigation; cyber-attacks or other breaches of network or information technology security; potential conflicts of interest between TDS and TDS Telecom; control by the TDS Voting Trust; disruption in credit or other financial markets; deterioration of U.S. or global economic conditions; and the impact, duration and severity of public health emergencies. Investors are encouraged to consider these and other risks and uncertainties that are more fully described under "Risk Factors" in the most recent filing of TDS' Form 10-K, as updated by any TDS Form 10-Q filed subsequent to such Form 10-K. For more information about TDS and its subsidiaries, visit: TDS: www.tdsinc.com; UScellular: www.uscellular.com; TDS Telecom: www.tdstelecom.com; OneNeck IT Solutions: www.oneneck.com.

TDS Telecommunications LLC (TDS Telecom/TDS^®) delivers high-speed internet, TV entertainment, and phone services to a mix of small to mid-sized urban, suburban and rural communities throughout the U.S. With 1.2 million connections, TDS is a rapidly growing technology company. Powered by fiber-optics and new industry-leading technologies, TDS delivers up to 8 Gigabit internet speeds and offers internet-protocol based TV entertainment solutions along with traditional phone services. TDS also offers businesses VoIP advanced communications solutions, dedicated internet service, data networking, and hosted-managed services. Visit tdstelecom.com.

TDS Telecom, headquartered in Madison, Wis., employs 3,400 people and is a subsidiary of Telephone and Data Systems, Inc. [NYSE: TDS]. Founded in 1969, Telephone and Data Systems provides wireless, broadband, video and voice; and hosted and managed services to approximately 6 million connections nationwide through its businesses: UScellular, TDS Telecom, and OneNeck IT Solutions. Visit tdsinc.com.

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SOURCE TDS Telecommunications LLC

FAQ

What is TDS Telecom launching?

TDS Telecom is launching a new mobile phone product named TDS Mobile.

When is TDS Telecom launching its mobile phone product?

TDS Telecom announced the launch on June 27, 2024, with notifications to eligible customers expected soon.

What network will TDS Mobile use?

TDS Mobile will utilize a national 5G mobile network.

Who will initially have access to TDS Mobile?

Initially, TDS Mobile will be exclusive to TDS internet customers before a wider release.

Who is TDS Telecom partnering with for the mobile launch?

TDS Telecom is partnering with Reach, a software-as-a-service platform, for the mobile product launch.

What is TDS Telecom’s stock symbol?

TDS Telecom’s stock symbol is TDS.