- Lattelecom
Lattelecom (previously Lattelekom) is a Latvian
internet service provider andtelecommunications company.Privatisation
Lattelecom is a former state-owned telecommunications company. In
1994 , 49% of the company's stock was sold to two foreign investors,Cable and Wireless and Telecom Finland, which is now part ofTeliaSonera . Cable and Wireless later sold its stake to TeliaSonera, which now owns 49% of the company. The remaining 51% of the company still belongs to Latvian government.Monopoly
Until relatively recently, Lattelecom had a monopoly rights on fixed-line voice communications in Latvia, which ended on
January 1 ,2003 .Fact|date=October 2007 The Latvian fixed telecommunications market is now open to competition but Lattelecom still has an overwhelming share of the market, and the company is also one of leadinginternet service provider s in Latvia and is one of the owners ofLatvijas Mobilais Telefons , Latvia's largestcell phone operator.The Lattelecom Group is the leading provider of electronic communications services in Latvia that offers electronic communication solutions for home, small and medium size businesses, state and municipal institutions, as well as for corporate clients.
In May, 2006, the corporate brand and name was changed to Lattelecom. Changing the brand of the company allegedly produced some advantages - a unified and powerful brand strengthens the reputation of the whole concern and helps the company to compete more successfully in different markets. In the long-term, the brand provides an added value for new products, fosters the development of partner relationships with other enterprises, helps human resource activities and serves as a symbol of quality, trustworthiness, and guarantee for customers.
The disadvantage of the new brand is however that "Lattelecom" cannot be pronounced correctly in Latvian if pronounced according to Latvian language rules. The "c" in Latvian is generally pronounced as a sort of "ts". This lead to considerable confusion with Lattelecom employees and customers as the "telecom" part of the brand was not recognizable in Latvian as being related to telecommunication services. The Lattelecom group provides IT, telecommunication and outsourced business process solutions that are provided by all of the companies of the group. Lattelecom Group is made up of six companies - SIA Lattelecom, Lattelecom BPO, Citrus Solutions, Lattelecom Technology with its subsidiary Baltic Computer Academy and LSS.
Profits and performance
As of
2003 , Lattelecom employs about 3,000 people, has annual revenues of 140 millionlat s (approximately $310 million (US))and profit of 27 million lats (approximately $50 million (US)).ee also
Latvia External links
* [http://www.lattelecom.lv//?lng=en Lattelecom's English site]
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