AT&T announces US$1 billion fibre deal with Corning

AT&T said on Monday (Oct 28) it had struck a US$1 billion multi-year deal with Corning to buy fibre, cable, and connectivity solutions, as the US telecom giant looks to expand its high-speed internet services.

With the US wireless market facing a slowdown, telecom companies such as AT&T and rival Verizon have doubled down on their high-speed Internet businesses, an area that has long been dominated by broadband companies such as Comcast.

Demand has also been growing for AT&T’s plans that allow customers to combine its high-speed fibre data with its wireless phone service for a discount.

The company expects the deal with Corning to boost its network expansion and enhance performance while minimising deployment costs.

In the third quarter, AT&T reported 28.3 million fibre passings, or the number of potential customer locations a fibre network passes by. It remains on track to pass more than 30 million fibre passings by the end of 2025.

AT&T’s fiber business added 226,000 customers in the third quarter, falling short of expectations for 257,860 additions, according to Visible Alpha.

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This was primarily due to a work stoppage that began in August in its south-east region and impacted fibre installations. REUTERS