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Singtel well positioned to weather competition, looking cheap at current prices: UOB Kay Hian
SINGAPORE (Mar 21): UOB Kay Hian is maintaining its “buy” call on Singtel with a target price of $3.58, while highlighting that the stock, at the price of $3.02, is currently below its mean EV/EBITDA with a 5.8% dividend yield. In a Thursday report, analyst Chong Lee Len says she continues to like Singtel for its customer-centric offerings and diversification across the region, as well as ...
Apple priced itself out of shrinking Chinese smartphone market
SAN FRANCISCO (Jan 4): Apple Inc.’s falloff in demand for iPhones in China shows the company’s flagship product is hurt by its high price and the rise of cheaper, more comparable rival devices in the world’s biggest market. The company cited struggling iPhone sales in China when it cut its quarterly revenue forecast on Wednesday for the first time in almost two decades. Chief Executive ...
StarHub's 1Q earnings fall 14.9% to $61.5 mil on lower sales
SINGAPORE (May 3): StarHub reported a 14.9% decline in 1Q18 earnings to $61.5 million from $72.3 million a year ago on lower sales. The telco was expected to reported earnings of $69.5 million, according to Thomson Reuters. Total revenue for the quarter fell 4.7% to $561 million from $588.7 million in 1Q17. This came on the back of 7.1% and 10% revenue declines in the Mobile and Pay TV ...
How Singapore’s telcos are responding to disruption with innovation
SINGAPORE (April 7): StarHub and Singtel are losing pay-TV customers with the increasing availability of Android TV boxes, free offerings such as Viu and CATCHPLAY, and an expanding array of legal streaming services available today – with Netflix being the best known player in the so-called over-the-top (OTT) space. To be clear, the business of pay TV has never been an important earnings ...
StarHub says no intention of merging with M1
SINGAPORE (March 31): Maybank Kim Eng Research continues to rate StarHub at “sell” at an unchanged price target of $2.49, foreseeing turbulent times ahead for the local telco despite it announcing a game plan to manage recent changes in the industry. In a report on Thursday, analyst Gregory Yap recalls how StarHub’s management expects the group’s EBITDA margin to fall to 26-28% this ...
Chinese smartphone billionaire is doubling Xiaomi's bet on India
BANGALORE/SYDNEY (March 31): The worst may be over for Xiaomi Corp.  The Chinese smartphone maker once compared with Apple Inc. has resumed growth and global revenue should surpass US$15 billion ($21 billion) this year as an expensive gamble on India pays off, billionaire co-founder Lei Jun said. After spending US$500 million in the subcontinent since its debut two ...
Technology M&A saw notable West-to-East value shift in 2016. Here’s why
SINGAPORE (March 14): Technology mergers and acquisitions (M&A) have hit an all-time global value record of US$466.6 billion ($660.1 billion) in 2016. According to the EY Global technology M&A report: October-December 2016 and year in review, this marks the highest value recorded in global technology industry, and 2% more than the prior record set in 2015 of US$419.6 billion. The ...
Analysts turn negative on StarHub
SINGAPORE (Feb 6): Market watchers have turned pessimistic on the outlook for StarHub, after the telco announced that it would cut distributions per unit by 20% for FY17 as operating expenses for its main mobile business continue to climb. OCBC Investment Research’s analysts Eugene Chua and Low Pei Han downgraded the stock to a “sell” with a fair value of $2.65. The pair noted that ...
StarHub posts 33.2% earnings decline in 4Q16 to $54 mil
SINGAPORE (Feb 3): StarHub has reported earnings of $54 million for 4QFY16, 33.2% lower than the earnings of $80.8 million in 4QFY15. For the full year period, earnings fell 8.3% to $341.4 million as revenue fell 1.9% to $2.4 billion. During the quarter to December, revenue rose marginally to $634.8 million on higher service revenue, which offset lower revenue from the sale of ...
Skies remain overcast for M1
SINGAPORE (Jan 13): CIMB Securities continues to keep its “hold” call on M1 Limited, Singapore’s smallest telco, as it lowers the stock’s target price estimate to $1.90 from $2.10 previously. In a Wednesday report, analyst Foong Choong Chen projects M1 to post flat service revenue in FY17F, with mobile revenues falling 1.8% mainly due to lower international roaming/voice usage ...