Broadband provider Imagine has committed to freezing prices for its customers for five years, as part of a new strategy to increase its reach in the market.
The telecommunications company, which has 35,000 customers throughout the country, said the price freeze would apply to all fibre customers and would last until 2030.
The most recent data from ComReg shows customers are increasingly opting for high-speed fibre broadband connections, with almost 1 million lines active as of the second quarter. That was a 5 per cent increase on the previous quarter and up 25 per cent year on year.
Imagine, which has Armenian owners, said its decision to freeze prices could save customers more than €1,200 when compared with other providers, based on a standard fibre 500MB plan and over a five-year period.
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Imagine said it was taking a different approach to the industry trend of offering short-term deals that resulted in significant price hikes once the promotion had expired, along with inflation-linked price rises each year.
Imagine said research from Ipsos B&A indicated the majority of Irish customers - 79 per cent - found price hikes stressful, with 75 per cent saying they had no choice but to constantly change providers.
“We want to reimagine what broadband can be in Ireland and give customers a real alternative that is fair, honest, and free from the usual tricks,” said Niall Tallon, chief executive of Imagine.
“Nobody wants to deal with annual inflationary price hikes or switching when short-term offers expire. People want price stability and simple, no-nonsense high-speed connectivity.”
Mr Tallon said the company was rewarding loyalty, while also allowing customers who sign up to its plans, which include 500MB, 2GB and 5GB speed plans, the flexibility to leave any time without being tied into a one or two-year contract.
According to figures from ComReg, Imagine had a 2.2 per cent share of the fixed broadband market at the end of the second quarter, level with Digiweb. Eir continues to lead the market at 27.7 per cent, with Virgin Media and Vodafone at just under 21 per cent each.
