TORONTO – Cellphone and internet shoppers may be noticing fewer bargains among this year’s Black Friday promotions from Canada’s leading telecommunications providers as they increasingly prioritize revenue growth over additional subscriptions.
Chief financial officers from BCE Inc. and Telus Corp. were among the speakers Monday at a conference held by Desjardins in Toronto, where they described a competitive environment that has been easing.
The shift comes after a couple years of intense competition to gain customers among the Big Three telecoms and Quebecor Inc., whose Videotron subsidiary was hailed as a fourth national carrier when it acquired Freedom Mobile in 2023.
Videotron must offer plans at least 20 per cent lower than its competitors as part of the federal government’s mandatory conditions when it approved the acquisition, and other companies have also sought to provide more attractive bundles since then.
But now, Bell’s Curtis Millen said the company “feels like we’re getting back to the normal interaction” when it comes to pricing for telecom services in Canada.
He said Canada’s telecom market had gotten less “reasonable and rational, pricing-wise” than the U.S. in recent years, however that trend seems to be reversing.
“The U.S. might seem a little bit more aggressive and we’re moving back into a strong value, still competitive (market), but not overly frothy in terms of customer offers,” Millen told Desjardins analyst Jerome Dubreuil.
“Ultimately it feels like a much healthier competitive environment.”
Millen added there are still certain times of year when telecoms tend to offer more attractive promotions than usual, including the ongoing Black Friday period, Boxing Day and during back-to-school season. However, more importance is now being placed on ensuring such deals can help bolster companies’ average revenue per user, a key metric for the sector.
This year’s Black Friday promotional period has so far “been a little bit quieter than we’ve seen in previous years out of the gate,” said Telus’ Doug French, adding there have been a few more deals for internet services compared with cellphone plans in certain regions.
“We’re still seeing some specials here and there but … more targeted,” said French.
In a note earlier this month, RBC analyst Drew McReynolds described “a new competitive equilibrium” among Canadian telecoms.
“We believe the Canadian telecom sector is now beyond the trough with respect to pricing, growth, valuations and sentiment,” he said.
This report by The Canadian Press was first published Nov. 24, 2025.
Companies in this story: (TSX:BCE, TSX:T)
