Boston, MA 10/10/2013 (wallstreetpr) – AT&T Inc. (NYSE:T) is betting big on broadband and it is also not too worried about ruffling any feathers. It has announced a host of new services aimed at providing fast internet access to U.S. customers and is laying an extensive fiber-optic network to deliver it. It has launched a three year investment plan Project Velocity IP (VIP) aimed at expanding its wireless and wireline broadband network to attract an additional 1 million business customers by end 2015. This will entail deploying its fiber optic network and provide access to a vast array of security, network and cloud based services. The speed can be gauged by the fact that they are ready to deliver at additional 750 multi-tenant buildings in Florida making fast broadband services available to more than 25000 customer locations.
AT&T is also betting big on U-verse services aimed at domestic consumers. This service will provide speeds of up to 300 Mbps over a fiber optic network and also allow access to TV services. It is pitted against Google Inc. (NASDAQ:GOOG) in this segment but has not shied away from taking the fight to the competitor’s doors. U-Verse revenues grew 38 % last year and subscriptions should now be over the 10 million mark having crossed 9.4 million in the last quarter.
AT&T is also looking at expanding in Europe, a move not supported by some investors and analysts. They cite the unwieldy and complex regulations and fierce competition there. However AT&T sees a potential for upgrading the legacy broadband services there and reap profits this would entail. It is already exploring possible bids for a European carrier and has identified Vodafone Group plc (LON:VOD) or Spain’s Telefonica (MCE:TEF). Expansion outside the U.S. is the only option left to the company for growth as the home market has matured and growth avenues have shrunk in the recent years.