COVID-19 impacts sales at HKT; signs 78,000 5G subs in three months

6 Aug 2020

Hong Kong fixed and mobile operator HKT, which is part of the PCCW group, has registered a 1% drop in total revenue excluding mobile handset sales in the first half of 2020, to HKD13.64 billion (USD1.76 billion). The company said that the decrease reflected the decline in roaming revenue due to the COVID-related travel restrictions that were in place throughout much of the first six months of the year. Overall revenues including device sales fell 3% to HKD14.61 billion, while EBITDA dropped by the same margin to HKD5.55 billion. Profit attributable to shareholders was down by 12% at HKD1.90 billion.

HKT claimed 4.37 million mobile customers at the end of June 2020, down 5% year-on-year, while fixed broadband subscriptions were stable at 1.62 million. The telco launched 5G services on 1 April and claimed 78,000 subscribers as of 30 June. It commented that the uptake was ‘encouraging despite the subdued sentiment and immature handset ecosystem. As consumer applications mature and 5G handsets become prevalent, we expect the 5G adoption to accelerate.’

Hong Kong, HKT/PCCW (incl. CSL)