Telco Cuba to Report its 3Q Financials
SAN JUAN – Telco Cuba, a cellular service provider that targets the Cuban demographic in the United States, expects to regain “current” reporting status by Jan. 25 by releasing its third-quarter financials.
The Amgentech company also said in a news release that it is pleased the Federal Communications Commission has removed Cuba from its “exclusion list,” allowing U.S. companies to provide telecommunication services to the Caribbean country without separate approval from the agency.
“High prices, exceptionally slow connectivity, and extensive government regulation have resulted in a pronounced lack of access to applications and services other than email. Most users can access only a government-controlled intranet rather than the global Internet, with hourly connection costs amounting to 20 percent of the minimum monthly wage.
“We believe this market to be a large, untapped opportunity for telecom providers such as our company,” stated William Sanchez, Telco Cuba’s CEO.
The vast majority of Telco’s potential subscribers are Cuban expatriates living in the United States, and the company intends to offer its services in Cuba when legally able to. All of its calling plans will allow international calls at similar or lower rates than competitive landline rates. Additionally, as a mobile virtual network operator of Sprint, Telco will offer direct text messaging and calling to Cuba. In addition to its cellphone services, Telco offers digital home phone service and will be bundling its digital and cellphone service in Q1.