Telstra has revealed that price changes to its fixed-line broadband products were “imminent” after new customer sign-ups fell for the first time in four years.
“Without wanting to disclose too much - it’s imminent,” Thodey said at the telco's investor day.
"We agree that we think that the fixed broadband decline is not good".
Thodey said that even though Telstra had experienced "good revenue growth" as customers moved up to higher bandwidth plans, loss of market share due to price was an issue.
“We want to make sure that the value premium is in the correct position in the market,” he said. “So watch this space”.
He added that to change its pricing stratergy was an "enormously complex area".
"We have become too far out of the market and we need to come back in line," Thodey said.
Billing system held it back
Group managing director of public policy and communications David Quilty blamed an upgrade to computer systems for a delay in realigning its prices to that of competitors.
He said that prioritising the migration of customers to a new billing system meant price changes had been left "a little too long".