A More Rational Competitive Environment Is Supporting Improved Wireless Pricing

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A More Rational Competitive Environment Is Supporting Improved Wireless Pricing

TD SECURITIES INC. - CANADA QUICK TAKE: INDUSTRY UPDATE

July 7, 2026

■Communications A More Rational Competitive Environment Is

Supporting Improved Wireless Pricing

Vince Valentini, CFA^ THE TD COWEN INSIGHT

416 944 7012

Canadian wireless pricing discipline remains solid, with ~$5 rate plan increases now visible

vince.valentini@tdsecurities.com

across Rogers, Bell, Koodo, and Public as of this morning, following Virgin and Fido, which

Natale Puccia, CFA^ were up $5 yesterday (see our note here: LINK). TELUS has also added website banners

416 983 6399 suggesting it could match Rogers/Bell pricing as early as tomorrow (Figure 2).

natale.puccia@tdsecurities.com

Carter Sullivan, CPA^ That leaves Freedom Mobile as the only postpaid brand in ON/AB/BC yet to move, making it

416 983 3954 the key brand to watch over the next week.

carter.sullivan@tdsecurities.com

Impact: Positive for telco share prices.

Incumbent carriers continue to show solid discipline on wireless pricing, and we remain

optimistic that Freedom will move pricing incrementally higher over the next week or so.

Freedom’s $40/75GB Canada/U.S./Mexico 5G plan remains priced well below comparable

incumbent offers. While only some plans on its website are currently marked with “limited

time” offer banners, broad-based price increases across Freedom’s rate plans would be

consistent with the actions already taken by its peers.

These elevated price points should create a healthier baseline ahead of the typical back-to-

school promotional period, which usually begins in mid- to late August. As a result, incumbents

should remain well positioned to continue improving ARPU despite seasonal promotional

pressure, in our view.