Far EasTone Telecommunications Co (遠傳電信) yesterday said it is seeking to expand its smart city-related services to the Southeast Asian market as part of efforts to grow revenue beyond traditional telecom services.
Smart city-related services in the company’s “new economy” business, along with big data, artificial intelligence (AI) and Internet of Things services, accounted for about 15 to 20 percent of Far EasTone’s overall revenue, it said.
Far EasTone expects the adoption of AI technology for city management and urban planning to boost demand for its AI-powered traffic management, energy management and air quality surveillance services, company president Chee Ching (井琪) told reporters on the sidelines of the Smart City Summit and Expo in Taipei.
Photo courtesy of Far EasTone Telecommunications Co
The company expects its smart city-related revenue to grow steadily this year, as a big part of the business is based on long-term government projects, Ching said.
Last year, the company reported 48 percent annual growth in contract value for green and smart city solutions, ranging from smart meters and electric charging, to smart harbor energy management and flood monitoring systems.
To further drive growth, Far EasTone plans to enhance its foothold in Southeast Asian countries in collaboration with subsidiaries including Nextlink Technology Co (博弘雲端) and Far Eastern Electronic Toll Collection Co (FETC, 遠通電收), Ching said.
Nextlink and FETC tapped into the Southeast Asian markets last year, she said.
Far EasTone owns 67 percent of Nextlink, a cloud service provider, and 40 percent of FETC, which provides electronic toll collection services.
Mobile services remained Far EasTone’s major revenue source, contributing 45 percent, followed by smartphones and other devices at about 31 percent, the company said.
The company has no plans to significantly expand its AI data center capacity, as most companies are still in the early stages of AI implementation, Ching said.
Only large-language-module developers require huge computing power, she said.
The company plans to spend NT$9.6 billion (US$301.1 million) on capital expenditures this year mostly on expanding 5G standalone network capacity in metropolitan areas. That is a 37 percent jump from last year’s NT$7 billion.
Revenue this year is expected to grow 6.5 percent to NT$117.48 billion, from NT$110.35 billion last year, Far EasTone forecast, attributing the growth partly due to the inclusion of NT$3 billion revenue from FETC for the first time.
Net profit this year is projected to rise 3.2 percent to NT$14.17 billion this year from NT$13.73 billion last year, while earnings per share is to increase to NT$3.93 from NT$3.81, it said.
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