Integrated accesses devices will sell with a relatively healthy gross profit margin of 20 percent to 30 percent, said Chen.
But the devices are difficult to make and the infrastructure for their use has yet to gain popularity.
Tecom may have said it will generate revenue from the technology over the next two years, but "it will not come so quickly," said Chen, who has doubts about the company's research and development team.
The whole Bluetooth phenomenon is also not as mature as some sections of the media might have suggested, analysts said.
They also pointed out that Tecom will be relying heavily on non-operating income this year to meet its financial targets because its projects for the year haven't turned out as well as they'd said at the beginning of the year.
"They're always focusing on quite low-end telecom products," said Vincent Hsu, assistant manager at First Taiwan Securities.
As a result, its margins are low and it will have to sell some of its KG Telecom stock to meet an earnings per share of what Hsu is predicting at NT$3.10 for the year.
"We hope the company does more research on its products, and especially its new products, to improve its margins," said Hsu.
Bluetooth products might reap higher profit margins, but the reality is that the products are still new and have yet to properly mature, said Hsu.
As a result, it'll still be a while before the company derives any substantial gains from that market.
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