What does the name of the company mean
AT & T (American Telephone and Telegraph) is today one of the largest wireless and telephone service providers in the United States. The total number of subscribers exceeds 150 million people, and the name itself has long been synonymous with quality.
What is the history of the company
The beginning of the history of AT & T was laid in the 1870s. It was then that inventor Alexander Graham Bell created the world’s first telephone. In 1875, he found a sponsor who agreed to finance his work, and in 1877 received all the necessary patents. Just a few years after that, telephone exchanges were opened in almost all major US cities, Alexander Bell founded Bell Telephone Company. Production of phones has acquired a massive hue. It is noteworthy that the inventor did not sell the first telephone sets, but leased them.
Directly AT & T appeared as a division of the Bell Telephone Company on March 3, 1885. At that time, her main task was to develop telephone communications over long distances. So, the first achievements of the company were telephone lines connecting New York with Philadelphia, as well as New York with Chicago. It’s literally a couple of years left for AT & T to grow, swallow up the parent Bell Telephone Company and make Alexander Bell incredibly rich. For the years to come, AT & T controlled virtually all of America’s telephone network.
For nearly a century, the company was a regulated monopoly. Explaining this by the fact that it was only in this way that the telephone systems could work most efficiently, AT & T connected to its network only those telephone companies that could not compete with it. This situation lasted until 1974, until the US government filed an antitrust lawsuit against AT & T. A painful legal process began, which lasted ten years and led to the division of the company.
In 1984, AT & T significantly lost its position and became incredibly vulnerable. Competitors approached her too closely, the further development of the company was under threat. The only chance for the former monopolist to survive in the new conditions was to enter the international market. AT & T quickly found its way and threw all its strength into the development of wireless communications, which at that time was just gaining popularity.
1995 was a year of voluntary restructuring, when two companies emerged from AT & T – Lucent Technologies and NCR. Further years were years of modernization. The former monopoly has invested heavily in the development of Internet technologies, bought the leading provider of global data networks, IBM Global Network, a division of IBM. And as a result of the transaction became the largest among cable companies in America.
In 2006, AT & T swallowed its long-time rival BellSouth. This transaction cost $ 67 billion. In 2011, the owners of AT & T managed to reach an agreement with the holding of Deutsche Telekom. Under this agreement, they bought the T-Mobile group of mobile communication companies for $ 39 billion. The result of this transaction was a striking increase in the number of subscribers of the company, as their total number was 129 million.
It cannot be said that the development of the company was absolutely cloudless. So, its wireless services have been repeatedly criticized, and in 2010, AT & T was named the worst wireless provider in the United States. However, her progress is much more impressive. So, today the company is the 14th in the world at market value and 9th in the list of large companies whose activities are not related to the extraction of certain resources. In addition, AT & T is the 20th largest cellular operator in the world. And these facts speak volumes.