SmarTone posts 50% rise in net income on back of strong iPhone 6 sales

18 Feb 2015

Hong Kong’s third-largest mobile operator by subscribers, SmarTone Telecommunications Holdings, has reported a significant 50% increase in interim net profit for the six months to 31 December 2014, to HKD466.29 million (USD60.10 million), up from HKD311.29 million a year earlier, fuelled by smartphone sales and in particular a ‘big wave’ of demand for Apple’s iPhone 6 and iPhone 6 Plus models. Speaking in a conference call, SmarTone CEO Douglas Li heralded what he termed the cellco’s ‘bumper results’, noting that the new devices – launched in September – had helped to drive a recovery in Hong Kong in H2 2014. SmarTone, a subsidiary of Sun Hung Kai Properties, booked a 58% year-on-year rise in smartphone and accessory sales to HKD5.93 billion in the period under review, as subscriber numbers rose 4% to 1.95 million – in the main people signing up to its ‘capped’ 3G tariff plans. Six-month revenue climbed 33% to HKD8.67 billion, compared to HKD6.53 billion in the corresponding period of 2013.

Hong Kong, SmarTone