Hutchison Telecom predicts 4G boost to mobile data consumption
Company had 3.03 million mobile subscribers in Hong Kong and Macau at end of last year
Hutchison Telecommunications Hong Kong, the city’s second-largest wireless network operator, expects mobile data consumption by subscribers to grow this year as more of them upgrade to 4G services.
Chief executive Peter Wong King-fai presented that upbeat outlook on Monday, following the company’s announcement of solid earnings last year.
Hutchison Telecom, a subsidiary of billionaire Li Ka-shing’s CK Hutchison Holdings, runs mobile services in Hong Kong and Macau under its “3” brand, while fixed-line residential operations fall under 3Home Broadband.
As of December 31, Hutchison Telecom had 3.03 million mobile subscribers in Hong Kong and Macau.
The company also provides sophisticated fixed-line, high-speed Wi-fi, data centre and cloud computing services to the enterprise market under the Hutchison Global Communications brand.
In a filing with the Hong Kong stock exchange on Monday, Hutchison Telecom reported a 10 per cent rise in net profit last year to HK$915 million, up from HK$833 million in 2014, mainly driven by strong mobile revenue.
We prefer to be a value leader [in mobile services] rather than a price leader