Hong Kong Broadband, a subsidiary of City Telecom, reached 136 thousand IPTV subscribers at the end of February 2008. It added 8 thousand subscribers during the previous six month period. The company also had 279 thousand broadband subscribers at the same time, adding 32 thousand over the previous six months.
City Telecom dropped the price of its 100 Mbps broadband service in order to increase its subscriber base. This contributed to the increase in its broadband business. Its ARPU across all its services remained flat during the period at about $23 per month. The company sets its broadband prices significantly below PCCW, the incumbent Telco in Hong Kong.
City Telecom is an aggressive competitor in a tough market. It increased its total revenues by nearly 11 percent year over year and has shown a profit over the last 18 months. This is a real achievement.
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