‘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
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]