WELLINGTON - New Zealand's largest telecommunications carrier, Telecom Corp., changed its name to Spark on Friday, saying the re-brand will better reflect its expanding activities in the digital age.
Managing director Simon Moutter said a new name was needed because Telecom, which was formed in 1987 when it was split from New Zealand Post, had evolved into more than a simple telecommunications firm.
"We now do much more than provide a copper line telephone service and we no longer own the fixed line network," he said.
"We're into a whole raft of new technologies... business cloud services, data centres, Internet TV, whatever new is around the corner. The Telecom brand simply didn't reflect this new world." Plans for the new name were announced in February, when the firm posted a modest 2.5 per cent rise in interim net profit of NZ$167 million (S$176.58 million). Full-year results are set for release on August 22.
Spark shares were down 0.35 per cent at NZ$2.86 in early trading on the NZX 50, with the overall market off 0.27 per cent.