ECONOMY

OTE hits back at its fixed-line rivals with lower phone bills

OTE Telecom announced yesterday that its new price plan, which aims to fight competition from alternative carriers and fixed-to-mobile substitution, will cut customers’ average bills by 6 percent. The plan, subject to approval by telecoms regulator EETT, introduces per-second billing and different tariffs based on the time and day of the week, as well as discounts for heavy usage. OTE said the new rates will cut the cost of a local call by an average 6.2 percent and long-distance calls by around 15.4 percent, offsetting a 3.8 percent rise in fixed charges. OTE’s share of the fixed-line market dropped to 89 percent at the end of September, as users switched to cheaper carriers and mobile operators. (Reuters)