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Public Mobile signs $350 million deal with ZTE Corporation

By on June 24, 2010 at 6:56am in Mobile News, Public Mobile, Various News

New entrant Public Mobile is on a tear recently. Over the past few days they  successfully launched their service in Toronto and on Friday they will follow up with going live in Montreal. In addition, last week they announced a partnership with Gateway Newstands that sees their phones in 152 Toronto locations. All sounds good… and today it’s getting 350 million times better.

During the wireless auction Public Mobile only spent $53 million and captured a reach of 19 million potential customers that stretches from Ontario to Quebec. Today Public Mobile, ZTE Corporation and the Export-Import Bank of China announced a $350M financing deal that will help them completely build out their network. The official signing of the deal will be taking place at 4:30pm today in Ottawa with Peter Van Loan, Canada’s Trade Minister.

In a press release Alek Krstajic, CEO of Public Mobile said “This is a significant deal for both Public Mobile and ZTE. We chose to work with ZTE because of their expertise in technology and commitment to financing. ZTE provides the world’s top mobile operators with high-quality and high-capacity network performance.”

There is one thing that is for sure – we’ll be seeing more ZTE devices on the shelves of Public Mobile stores.
Congrats to everyone at Public Mobile!

Related posts:

  1. Public Mobile: “This is about fat cats looking to get fatter”
  2. Video Interview with Alek Krstajic, CEO of Public Mobile
  3. UPDATE: Public Mobile launching “first half of 2010″
  4. Public Mobile confirms plans to eventually go LTE

Discussion

11 comments for “Public Mobile signs $350 million deal with ZTE Corporation”

  1. no. it’s not “for sure” that you’ll be seeing more zte devices. zte is building the infrastructure, which is something they do in many parts of the world. you might get one or two more zte handsets but that’s about it.

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    Posted by jarr | June 24, 2010, 7:19 am
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  2. Seen a few of their locations and as this one, none of them inspire much confidence. I know its a low tear brand and all, but really?

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    Posted by Anthiony | June 24, 2010, 7:32 am
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  3. I agree with Anthiony, not sure I would even enter a store that looked like the one in the picture.

    Hopefully they can provide a solid network in the coming years. Competition is good.

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    Posted by Jim | June 24, 2010, 8:51 am
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  4. I am expecting to see Public is planning to build a 3G network on their G-band spectrum with help from ZTE. That is the only way for Public to compete with anyone else in the industry. As Jim said, competition is good.

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    Posted by Breezee | June 24, 2010, 10:55 am
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  5. in their customer base Public beaten Wind which gets more and more confused and blury who and how is looking their customer. Wind never ending huge network issues, weird plans with desperate turns and problem customer service benefit their all competition with Public breaking through with success on their target while sharing the same market with their competition

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    Posted by 4GH | June 24, 2010, 2:48 pm
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  6. I guess more people want to FAIL with PUBLIC MOBILE!!!

    i rather give my money to Penguins then invest in Public Mobile

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    Posted by Jason- Ex Rogers Employee | June 24, 2010, 5:32 pm
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  7. talk about pissing away money

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    Posted by Bong Sniffer | June 24, 2010, 7:24 pm
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  8. Seems like 4GH works for Public Mobile. How is Public Better by targeting 1 group that will soon move to WIND or Mobilicity because of 1 key factor its CHEAPER!! In life people are more concern about saving when being a product.

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    Posted by CaptainZangetsu | June 24, 2010, 9:21 pm
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  9. when buying*

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    Posted by CaptainZangetsu | June 24, 2010, 9:22 pm
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  10. All you naysayers can bash all you want about PM… PM will survive and surpass everyone’s expectations. Just like Hyundai, the laughing stock of cars when it first came out with the Pony. Now the Japanese brands are terrified and are actually buy up Hyundai dealerships. Americans, forget it – reduced to a bunch of sissy’s. Who’s laughing now?

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    Posted by Foneplan | June 26, 2010, 2:30 pm
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  11. @ Foneplan

    Thats so true…ppl are all talk nowadays no one actually thinks…

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    Posted by Dill | June 27, 2010, 10:34 am
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