Telus adds auto tech

Article Excerpt

TELUS $44.93 (Toronto symbol T; Shares o/s: 594.0 million; Market cap: $26.7 billion; TSINetwork Rating: Above Average; Divd. yield: 4.4%; www.telus.com) will soon launch a wireless device that plugs into a car’s onboard diagnostic system. That’s the same way auto technicians plug in their own diagnostic equipment. Telus’s new device, called Telus Drive+, identifies and then alerts drivers to possible problems with their vehicles such as an overheated engine or a failing battery. The device is made by ZTE and costs $200 outright or $0 as part of a two-year contract. Telus subscribers will pay $15 month for the service, which gets added to their accounts. Telus Drive+ uses Wi-Fi technology to connect with smartphones and other wireless devices. Telus customers can also use it to find and track their vehicles or monitor their driving. These types of innovative products help the company attract new wireless subscribers, and generate higher fees from existing users. Telus is a buy. buy…