HKT sees 6% drop in 2019 sales, plans 5G launch for April

13 Feb 2020

Hong Kong fixed and mobile operator HKT, which is part of the PCCW Group, saw a 1% increase in total revenue excluding mobile product sales in FY 2019 to HKD29.70 billion (USD3.82 billion). Including handset sales, however, revenues dropped 6% to HKD33.10 billion. EBITDA rose 2% to HKD12.82 billion, while profit attributable to shareholders increased 8% to HKD5.22 billion. The firm said it ‘delivered a solid financial performance in 2019 despite a weak global economic environment and challenging local market conditions’.

The firm is looking to launch commercial 5G mobile services in the second quarter. Susanna Hui, HKT’s Group Managing Director, said: ‘First and foremost, HKT is working towards the introduction in April of a quality 5G service for Hong Kong’s early adopters, offering unique consumer applications in VR/AR, gaming and other immersive content. More importantly, we believe 5G will open the door to numerous opportunities in commercial applications given its ultra-high speed, massive connectivity, and ultra-low latency.’

Hong Kong, HKT/PCCW (incl. CSL)