Good for Business, Latvia, Technology, Telecomunications

Juris Binde. Photo: lmt.lv.

According to Latvijas Mobilais Telefons (Latvian Mobile Telephone, LMT) president Juris Binde, the 5G standardization process has not been completed. The International Telecommunication Union plan to complete is between 2019 and 2020, or probably in 2021. "Then this technology will be ready for use," said he.

He said that the company now has more than 100 base stations that have been prepared for work in the 5G network. He said that software should be installed on them and they are able to operate.

Binde also said that LMT has more than 1,200 base stations in total, still the 5G base stations will not ensure full coverage of Latvia's territory.

As reported, LMT posted a 3.7% increase in turnover last year to EUR 163.66 mln. The company's profits also saw 26.2% increase in 2017 to EUR 30.67 mln.

Founded in 1992, LMT is the oldest mobile operator in Latvia. LMT shareholders are Sobera Holding B.V (24.5%) and Telia Company (24.5%), Lattelecom (23%), the state-owned Latvian State Radio and Television Center (23%), and the Latvian Privatization Agency (5%).