Chunghwa Telecom (2412 TT): Outlook Grim as Revenues Decline

Chunghwa Telecom's 2019 Guidance Looks Optimistic After Missing 2018 Guidance.

Taiwan Telcos: Run up to 5G Auction Will Drive Uncertainty. Remain Cautious

Taiwan Telcos: Recent NT$499 Promotions Skew Short Term Revenue but Suggest Very Weak Numbers Ahead.

Chunghwa Telecom: A One Week Promotion Creates Real Long Term Problems

Taiwanese Telcos December Results Show Ongoing Pressure on Revenues and Profits

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Equity Bottom-Up

<p>We wrote about the Taiwanese telecom market recently in light of <a href="https://www.smartkarma.com/entities/9181" target="_blank" data-smartkarma-citation="entities:9181:1">Chunghwa Telecom's (2412 TT)</a> NT$499 package. We are now starting to see monthly numbers following this and they are poor, as expected. We are seeing weak revenue numbers across the board as subscribers spin-down to lower monthly revenue payments. Chunghwa saw almost 15% of its subscriber base spin down to these lower tariffs in a promotion that lasted only a week. In the near-term, the cancellation fees will support FY18 results…</p>

We wrote about the Taiwanese telecom market recently in light of Chunghwa Telecom's (2412 TT) NT$499 package. We are now starting to see monthly numbers following this and they are poor, as expected. We are seeing weak revenue numbers across the board as subscribers spin-down to lower monthly revenue payments. Chunghwa saw almost 15% of its subscriber base spin down to these lower tariffs in a promotion that lasted only a week. In the near-term, the cancellation fees will support FY18 results…

Chunghwa (2412 TT) Monthly Numbers Start to Show the Pain from Lower Tariff Promotion