HKBN Launches Incredible 1Gbps Triple-Play for US$20/month
June 02 2011 - 9:37PM
Hong Kong Broadband Network Limited ("HKBN"), a wholly-owned
subsidiary of City Telecom (HK) Limited, (HKSE:1137) (Nasdaq:CTEL)
announced the launch of our Incredible Triple-Play offer for 1Gbps
broadband, voice, and pay-TV for US$20/month (HK$158) with 24-month
contract.
At HKBN, we are benefiting from rapidly increasing economies of
scale as the market embraces our World leading 1Gbps service. With
our costs falling, we are pleased to be able to pass on savings to
our customers and make money for our shareholders. Our cost
per home pass of approximately US$200 is amongst the lowest in the
World which empowered us to increase our Return on Equity from 3.2%
in FY2007 to 19% in 1H FY2011, whilst offering amongst the best
value in the World to customers.
Furthermore, we were very encouraged by the incumbent's
recent high profile launch of its Fibre-To-The-Home (FTTH) 200Mbps
plus WiFi service in Public Housing estates for HK$165. We are
pleased to be working together with the incumbent to turn Hong Kong
into a Global leader for FTTH, closing out the legacy copper based
xDSL era.
Ms. June Lam, Associate Director of Marketing, HKBN said, "We
are ecstatic to be pioneering the mass take-up of
Fibre-To-The-Home. Today, our 1Gbps coverage already surpasses over
1 million households and we are working hard to approach 2 million
households coverage by end 2011. As with all new technologies,
take-up accelerates once a certain inflection point of acceptance
is reached, and we believe that Hong Kong is now at that inflection
point."
About City Telecom/ Hong Kong Broadband Network
Limited
Established in 1992, City Telecom (H.K.) Limited (HKSE:1137)
(Nasdaq:CTEL) provides integrated telecommunications services in
Hong Kong via its own self-built fiber network. City Telecom's
wholly-owned subsidiary, Hong Kong Broadband Network Limited
(HKBN), is the fastest growing broadband service provider in Hong
Kong. HKBN offers a diversified portfolio of innovative products
that service over 1,110,000 subscriptions for broadband, local
telephony and IP-TV. The Company has built a solid market position
with top-of-the-line applications and practices enabling its
substantial growth. The company takes great pride in developing its
around 3,000 Talent force into a competitive advantage. Additional
information on City Telecom can be found at
www.ctigroup.com.hk.
CONTACT: Corporate Communications
Jessie Cheng
Tel: +852 3145 4118
Fax: +852 2199 8372
Email: chengcm@ctihk.com
Investor Engagement
Peggy Chan
Tel: +852 3145 6068
Fax: +852 2199 8655
Email: investor_engagement@ctihk.com
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