Singapore Telecommunications (SingTel) has launched an internet-based television service (IPTV) in an attempt to keep pace with local cable rival StarHub. SingTel is investing USD19.8 million during the current financial year to develop the product, dubbed MioTV, although it declined to provide subscriber targets or divulge the total sum invested on MioTV to date. The new service, launched last Saturday, offers 33 channels of TV content. The company hopes to roll out the service to 85% of households in the city-state, equivalent to roughly 4.5 million people. Analysts warn, however, that SingTel’s push into the pay-TV segment could raise costs and cut profits in the short term, although they agree it could generate higher earnings in the long term.