Far EasTone Telecommunications Co Ltd (遠傳電信) aims to more than triple revenue contributions from its value-added services to 20 percent within three years on fast-growing demand for its online payment services and mobile video subscriptions.
Value-added services accounted for 6 percent of Far EasTone’s overall revenue in the first half as it has accumulated 9.4 million customers for the services, the nation’s No. 3 telecom said.
“We hope to increase that to 20 percent in 2020,” Far EasTone president Yvonne Li (李彬) told reporters on the sidelines of its annual general meeting yesterday.
By that time, the number of subscribers to value-added services is expected to reach 20 million, Li said.
The company said the growth will primarily come from subscriptions to its mobile wallet, mobile videos and billing services for people buying applications in the Apple and Google Play stores.
Far EasTone has more than 700,000 mobile wallet users.
Transactions using the digital payment tool average NT$700 per month per subscriber, the company said.
Far EasTone chief financial officer T.Y. Yin (尹德洋) attributed the growth in its value-added services to the company’s average revenue per user of NT$883 in the first quarter, compared with Chunghwa Telecom Co’s (中華電信) NT$590 and NT$861 for Taiwan Mobile Co (台灣大哥大).
Far EasTone said it aims to increase its number of 4G subscribers to 5.5 million by the end of this year, which would be a rise of 6.38 percent from about 5.17 million in the first quarter.
In the competition over Internet connection speed with local peers, Far EasTone said it expects its 4G users to see speeds accelerate to 500 megabits per second (Mbps) by the middle of next month on existing three-carrier aggregation (3Ca) services, due to spectrum expansion.
The company’s comments came after bigger rival Chunghwa Telecom on Thursday said that Internet connection speeds would rise to 400Mbps next month when it starts using advanced 4Ca technology to better utilize its spectrum.
Far EasTone said about 25 percent of its 4G users’ mobile phones support 3Ca technology, while few devices on the market support 4Ca technology.
Far EasTone shareholders yesterday approved distribution of a cash dividend of NT$3.75 per common share as the company allocated earnings per share (EPS) of NT$3.129 and a capital surplus of NT$0.621 per share toward the dividend.
The company posted EPS of NT$3.5 last year.
Chunghwa Telecom shareholders yesterday approved a plan to distribute a cash dividend of NT$4.94 per share following a seven-and-a-half-hour meeting.
The company reported EPS of NT$5.16 last year.
PRICE POINT: While overall demand has lagged expectations, higher-priced iPhone 14 Pro models appear to attract more attention than entry-level versions, sources said Apple Inc is backing off plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize, people familiar with the matter said. The Cupertino, California-based company has told suppliers to pull back from efforts to increase assembly of the iPhone 14 product family by as many as 6 million units in the second half of this year, said the people, asking not to be named as the plans are not public. Instead, the company would aim to produce 90 million handsets for the period, about the same level as in the second half
INEXPENSIVE POWER: Group chairman Gautam Adani said 70% of the investment would go into energy transition, with a focus on green hydrogen India’s Adani Group is to invest more than US$100 billion over the next decade, most of it in the energy transition business, chairman Gautam Adani said yesterday, as the ports-to-energy conglomerate accelerates an already aggressive expansion plan. After founding the group in 1988 as a commodities trading business, the 60-year-old has ventured into multiple sectors, mainly in the infrastructure space and in line with the priorities of the government of Indian Prime Minister Narendra Modi. “As a group, we will invest over US$100 billion of capital in the next decade,” Adani, the world’s second-richest person, told the Forbes Global CEO Conference in
Foxconn Technology Group (富士康科技集團) is to invest US$1.75 million in a joint venture with PT Indika Energy Tbk to explore commercial electric vehicle (EV) and electric battery business opportunities in Indonesia, the Taipei-based company said yesterday. With the investment, Foxconn would hold a 40 percent stake in the joint venture, PT Foxconn Indika Motor, while PT Indika would own 60 percent. The collaboration is an extension of a memorandum of understanding signed in January by Indika Energy, Foxconn, Gogoro Inc (睿能創意) and others aiming to build an electric vehicle supply chain in Southeast Asia’s biggest economy. Gogoro, in which Foxconn owns a 0.76
COLD BENDING: Innolux plans to boost contribution from vehicle displays to 50 percent of overall revenue from 12 percent in the second quarter of this year Innolux Corp (群創) is deepening its partnership with the US-based Corning Inc in the production of cockpit displays through a subsidiary, as it pushes ahead with transformation efforts to fuel growth. Singapore-based CarUX Technology Pte Ltd (群豐駿科技), a vehicle display maker fully owned by Innolux, would incorporate Corning’s cold-bending technology into its large curved vehicle displays, Innolux said in a statement yesterday. CarUX and Corning are expanding their collaboration from automotive glass substrates to glass substrate protection solutions, as they seek to build supply chain ecosystems to generate greater industrial synergies, CarUX said in the statement. With Corning’s ColdForm technology, a glass cover