Telekom Malaysia (TM) has rebranded Packet One Networks (P1), which it acquired in 2014, as webe, but it didn’t reveal when the wireless broadband provider will launch mobile service.

Webe CEO C.C. Puan said it is upgrading its mobile network and plans to introduce 4G service “very soon”, the Star reported.

Puan, speaking at the launch of a mobile app to promote community projects, noted that it isn’t just changing its name. “We have completely renewed our philosophy and approach to business. In line with TM’s aspiration of becoming Malaysia’s convergence champion, webe will become TM group’s centre of excellence for mobility.”

The launch of webe service will see TM re-enter the mobile space after an eight-year absence. TM demerged its fixed-line and mobile units in 2008, with Celcom transferred to TM International, which later was renamed Axiata.

Based on local newspaper reports, webe’s low-cost postpaid plan, which will include 1,000 voice minutes, 1,000 texts and 20GB of data, will be priced at MYR10 ($2.55) per month.

TM has a 55.3 per cent stake in P1, while Green Packet has a 31.1 per cent interest and South Korea’s SK Telecom has a 13.6 per cent share.

Webe will face fierce competition from the four established players, particularly Maxis (the market leader with a 30 per cent market share), Celcom (29 per cent) and Digi (26 per cent). U Mobile has a 10 per cent share.