Chunghwa sets 5G targets, revenue drops

5G News

Taiwan operator Chunghwa Telecom outlined its 5G deployment plans, targeting full coverage by end-2021 and more than 1 million subscribers, as it revealed mixed Q2 numbers.

Chairman and CEO Shieh Chi-Mau said despite Covid-19 (coronavirus) disruption persisting, the operator continued to develop its business: “While we continue to closely monitor market conditions, we believe we are well positioned to navigate through the pandemic and macro headwinds.”

He said 5G will drive its business to a new level, enabling provision of more value-added services to both consumers and enterprise customers.

The operator, which received its 5G licence last month, said it had more than 2,000 base stations in 22 cities by end-June when it launched the service. It aims to have full coverage in major cities and transportation lines using the 3.5GHz and 2.1GHz bands by end-2020, and nationwide coverage by end-2021 with more than 8,500 sites.

Net profit in Q2 was flat at TWD8.6 billion ($292.2 million) and revenue decreased 4.6 per cent year-on-year to TWD47.8 billion.

Mobile service revenue fell 4.5 per cent to TWD14.01 billion, attributed to rising competition, VoIP substitution and lower roaming revenue due to the pandemic. Handset sales dropped 14.2 per cent to TWD6.84 billion.

Its mobile subscriber base grew 4.6 per cent to 11.09 million.

Capex for 2020 is set at TWD30.7 billion, 27 per cent higher than 2019.


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