RIGA - Latvijas Mobilais Telefons (LMT) invested EUR 27 million in its communication network and service development, the company’s spokeswoman Elina Lidere told LETA.
She said that substantial investments were being planned also for this year, primarily in the 5G technology, including the development of a 5G prototype network and new services.
As LMT continued to develop its network infrastructure to ensure positive mobile communications experience to its clients, the company installed new or expanded over 250 base stations, focusing on Latvia’s regions which have seen Internet penetration growing as fast as in Riga and its vicinity. To date, LMT has installed 1,348 base stations across Latvia.
Preparing for the launch of its 5G mobile communications network, LMT in cooperation with higher education institutions and businesses tested 5G technology and started work on 5G services. The company has installed software in over 130 of its mobile stations enabling interaction with 5G compatible equipment.
As reported, LMT saw its turnover grow 3.7 percent year-on-year to EUR 163.664 in 2017, while the company’s profit that year rose by 26.2 percent to EUR 30.674 million.
LMT was registered in 1992 as the first mobile operator in Latvia. Sonera Holding and Telia Company each own 24.5 percent of LMT shares, Lattelecom and Latvian State Radio and Television Center - 23 percent each, and Latvian Privatization Agency - 5 percent.