Feb 04, 2023 Last Updated 00:37 AM EST

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AT&T to spend $10 billion to expand its business solutions for customers worldwide

Feb 23, 2016 09:51 AM EST

AT&T, a US-based telecommunication company, on Monday announced its intention to spend about $10 billion this year in order to provide its "integrated solutions" for enterprises globally. The company expects its net monetary investment to be in the range of $22 billion in 2106. With the purchase of DirecTV in 2015, the company began focussing mainly on pay-TV services.

The current investment activity will reinforce AT&T's network system and its abilities to improve client experience. The Dallas-based company also intends to broaden its inventive platforms by introducing fresh solutions worldwide.

The company noted that nearly half of its investment will be expended on incorporating over 6,000 kilometres of fiber wireless operations in Mexico with its wireline network. The telecommunication firm plans to employ hundreds of staffs to market their solutions in Mexico. AT&T intends to use the investment amount in other business related projects like improving its wireless connectivity to link more places globally.

The company intends to widen its software oriented platform that enable faster delivery and also allows users to shift their network services easily. AT&T also wants to widen its US and Europe IoT services to link assets in fleets, utility meters, shipping containers, air cargo and other related industries. The company's investment strategy also includes its idea of expanding its business solutions in the US, Asia-Pacific, Canada and EMEA.

As part of this strategy, the company aims to improve its safety features and to offer telecommunications implements for enterprises and customers worldwide. The company's customers include almost the entire Fortune 100 firms. According to Steve McGaw, chief marketing officer of Business Solutions at AT&T, the company's investment strategy is focused mainly on speed. He continued that with this innovation, AT&T helps clients across the world to improve their businesses.

The Progressive Policy Institute has ranked AT&T as the highest US spender. The company had invested nearly $62 billion during the period from 2012 - 2014. AT&T missed nearly 256K post-paid clients during the final three-month period of 2015, while its peers like T-Mobile and Verizon added 917,000 and 449,000 customers respectively. Financial Times quoted a financial expert at New Street Research, Vivek Stalam, who said that nearly two-thirds of the company's operating profit comes from its mobile phone clients.

Meanwhile, the company is planning to test its 5G technology at enterprises and residences. The 5G trial will help the company to improve its broadband services to many places in the US. Reuters quoted John Donovan, chief strategy officer at AT&T, who said that the company is well positioned in the industry and the 5G broadband service will add more advantages to its profile.

AT&T will continue its spending approach to accelerate its business solutions as well as to enable clients across the globe to broaden their business portfolio and enrich their customer base. The company is trying hard to boost its financial strength.

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