Telstra focuses on new revenue channels
After a year of NBN talks with the Government, Telstra chief executive David Thodey says he now has its sights set on diversifying the business and satisfying unhappy customers.
He admits the NBN deal is yet to be authorized by shareholders, but is positive that the company's $11 billion non-binding financial agreement with the Federal Government will hold.
"It's very important to understand that Telstra, the board and myself, could not sign a non-binding contract unless we believed it was in the best interest of our shareholders," Mr Thodey said.
At the Sydney launch of T-Box, Telstra's latest retail product, the company disclosed it was focusing on new revenue channels.
"As we change the business from a very strong reliance on fixed-voice services, we've got to find new revenue streams that allow us to compete in new, different ways," Mr Thodey said.
The business was looking at acquisitions to build its portfolio of products, which could incorporate new media, content and mobile applications.
According to him, Telstra wanted to expand the core business of telecommunications.
"It's critically important for Telstra to have a number of growth initiatives for us going forward," he said.
"We've got to keep growing the business, got to keep it dynamic, agile and really moving ahead and leading people in entertainment (and) communications."
Since his appointment just over a year ago, the chief executive has cited improving customer service as his top priority.
While complaints have already declined 33 per cent, from the 10,000 Telstra received in the previous year under former boss Sol Trujillo, Mr Thodey claimed Telstra can still improve, projecting a reduction by another third.