It also put its satellite division up for sale in a move market sources believe could raise up to $2 billion for the telco.
Optus head of brand Nathan Rosenberg also said the telco cut its advertising spend in the year ahead. He said the telco's animals had become "a bit tired" and that the re-branding would change everything from colour schemes to the logo.
"I would rather things work brilliantly and people have a great experience than tell people things are great," he said. "So the stuff you've seen today has to work much harder because we aren't going to be frivolous in the way we spend cash.
"We have not been the brand [our customers] wanted us to be," he said.
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