‘SMALL MARKET’: There is no turning back from the price war that started in May last year, FET president Ching Chee said, adding that only 5G technology might offer respite

Taipei Times
Date: Feb 21, 2019
By: Lisa Wang  /  Staff Reporter

Far EasTone Telecommunications Co (FET, 遠傳電信) yesterday said that its revenue would drop 2.3 percent this year as its NT$499 monthly unlimited data plan continues to eat into profits, adding that there is no quick fix in sight before the arrival of 5G technology.

Revenue last year fell 6 percent annually to NT$86.64 billion (US$2.81 billion), missing the company’s target of NT$89.89 billion, which was attributed to the unlimited data plan launched in May last year.

The nation’s other telecoms also launched similar data plans.

The nation’s No. 3 telecom expects net income this year to slide at a faster rate of 9.8 percent annually to NT$8.47 billion, compared with NT$9.38 billion last year. Earnings per share is expected to sink to NT$2.6 this year from NT$2.88 last year.    [FULL  STORY]