A lot seems to be going on in Hong Kong’s telecom industry lately.
Hutchison Telecommunications Hong Kong Holdings Limited( 00215.HK) and Hong Kong Telecom (06823.HK) both announced changes at the senior executive level earlier this month.
On Aug. 7, Hong Kong Broadband Network (01310.HK) announced that it has agreed to acquire all shares from MBK Partners and TPG for HK$5.489 billion.
The deal is subject to approval of shareholders and regulators, and is expected to be completed in the first quarter of 2019.
The telecom industry is now undergoing profound changes amid intense competition as well as fast-changing technology and market environment.
The Internet of Things and smart city development are expected to bring new business opportunities. The launch of 5G service will also bring tremendous changes to both fixed-line and wireless services.
All telecom operators are gearing up for these upcoming changes and challenges.
In this new era, telecom operators should be aware that their businesses are no longer restricted to telecom services, but encompass new fields such as smart living services.
This article appeared in the Hong Kong Economic Journal on Aug 15
Translation by Julie Zhu
[Chinese version 中文版]
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