Chorus Limited ( (CHRUF) ) just unveiled an announcement.
Chorus Limited announced its Q3 FY25 connections update, highlighting significant progress in transitioning from copper to fibre networks. The company disconnected 16,000 copper lines, reducing the total to 107,000, and aims to retire the copper network in fibre areas by mid-2026. The Commerce Commission proposed deregulating copper services due to the availability of alternative technologies. Fibre uptake increased to 72%, with 9,000 new fibre connections added, and the company plans to upgrade its 50Mbps plan to 100Mbps in June. Despite a decline in total fixed-line connections, fibre demand continues to grow, driven by new property developments and increased residential and business usage.
More about Chorus Limited
Chorus Limited operates in the telecommunications industry, primarily focusing on providing fibre network services in New Zealand. The company is transitioning from copper to fibre networks, aiming to enhance connectivity and meet the growing demand for high-speed internet services.
YTD Price Performance: -0.99%
Technical Sentiment Signal: Sell
Current Market Cap: $2.04B
See more data about CHRUF stock on TipRanks’ Stock Analysis page.