大行評級|瑞銀:移動市場競爭激烈對香港電訊移動服務收入影響有限 維持“買入”評級
瑞銀髮表研究報吿指,香港電訊現已停止提供4G流動電話服務,並於今年7月起向客户提高其5G服務的數據流量10-150%,同時保持該計劃月費不變。而香港寬頻在4月取消了數據流量高於60GB的5G服務,並策略性地專注於中低階客户(目前60GB的最高月費為168元) 。該行認為,上述營運策略意味行業競爭仍然激烈,並相信同類型的促銷活動或有助於香港電訊吸引新用户,並獲得更多市場份額。瑞銀亦指,激烈的流動電話市場競爭,對香港電訊流動電話服務的收入影響有限。而雖然在良性的價格競爭下,香港寬頻的住宅寬頻每用户平均收入(ARPU)在2024財年上半年業績中有所增長,不過由於對價格敏感的客户流失,導致其住宅寬頻總收入錄得下跌。考慮到業務前景強勁及上述因素,瑞銀繼續看好香港電訊多於香港寬頻,維持前者“買入”評級,香港寬頻評級則為“中性”。
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