SINGAPORE (Aug 22): UOB KayHian says Apple’s iPhone 8 and 8 Plus are both “a blessing and a curse” for telcos M1 and StarHub.

As iPhone 8 is a “stunningly beautiful must-have” smartphone, the incumbent telcos are expected to leverage on the phone to lock in new and existing customers ahead of the entry of TPG Telecom which just missed the boat.

“We have trimmed our target prices for M1 to $1.98 and for StarHub to $2.62 to factor in the higher handset subsidies incurred for iPhone 8,” says Jonathan Koh who has a “buy” for M1 and a “hold” for StarHub.

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