Fixed broadband network operator, Hong Kong Broadband Network has been granted a mobile virtual network operator (MVNO) license by the Office of the Communications Authority. It has signed a MoU with China Mobile Hong Kong, and says it is in discussions with two other local mobile network operators, with a view to launching mobile services to both the residential and corporate markets. It expects to soft launch the service in August.
The company said the addition of mobile services would 'form a strong part of the best-value quad-play offers by HKBN, comprising broadband, fixed-line telephone, OTT entertainment & sports, and mobile services.'
CEO William Yeung said: ""This is a strong move to maximize shareholder value by offering a full suite of fixed and mobile services, leveraging our quickly expanding broadband customer base of over 800,000 households. Replicating our success in the fixed broadband market, our mobile service will come with strong value propositions, aiming to delight customers with the best customer experience at highly competitive prices.""
HKBN claims to be Hong Kong's largest provider of residential high-speed fiber broadband (symmetrical 100Mbps to 1,000Mbps) services by number of subscriptions, and a fast growing enterprise solutions provider. Its fiber network passes more than 2.1 million residential homes passed, approximately 79 percent of Hong Kong's total residential units, and more than 2,200 commercial buildings.
The company says it is on track to become the first challenger carrier anywhere in the world to go to number one in terms of fixed residential broadband subscriptions. Today it claims to have 38 percent market share by households connected to all fixed broadband technologies against incumbent PCCW's 45 percent. It is predicting it will exceed PCCW's market share in 2018.
HKBN is managed by over 340 co-owners who have invested their own savings to buy HKBN shares, representing the majority of supervisory and management level staff.
