End of HK$99/month Promotion -- New Price at HK$169/month
August 18 2010 - 9:19PM
City Telecom (HK) Limited (HKSE:1137) (Nasdaq:CTEL) announced that,
effective from 1 September 2010, the special promotion of
HK$99/month (US$13) for symmetric 100Mbps broadband service will be
terminated. Whilst the new price of HK$169/month (US$22) plus
HK$380 (US$49) installation fee represents a 70% increase on
promotional rate, it nonetheless represents awesome value by global
standards. Compared to US benchmark of Verizon FiOS's "Tier 3:
Fastest" plan of 50 Mbps downstream and 20 Mbps upstream priced at
US$139.95/month1, our symmetric 100 Mbps offers 18x2 better value
on a dollar per bit basis.
Ms. June Lam, Associate Director, Marketing: "Today, Hong Kong
is the third most advanced Fibre-To-The-Home market in the World,
trailing only South Korea and Japan. At City Telecom, we are proud
to have contributed to this positioning. Having surpassed our
growth target of exceeding 500,000 subscribers, led by our
temporary price promotions, it's now time for us to move beyond
price and focus on extending our service quality lead."
For details on the latest printed advertisement and global
Fibre-To-The-Home Ranking, please visit:
http://reg.hkbn.net/ctigroup_admin/files_upload/PR_End_of_99promotionE.pdf
Notes
1. Per Verizon FiOS website :
http://www22.verizon.com/residential/fiosinternet/#plans
2. Verizon FiOS of US$139.95/(50Mbps downlink + 20Mbps uplink)
Versus CTEL bb100 of US$22/(100Mbps downlink + 100Mbps uplink)
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 fibre 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 1,027,000 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 it
substantial growth. The company takes great pride in
developing its over 3,000 Talent force into a competitive
advantage. Additional information on City Telecom can be found at
www.ctigroup.com.hk.
CONTACT: City Telecom (H.K.) Limited
Corporate Communications
Ms. Jessie Cheng
+852 3145 4118
Fax: +852 2199 8372
chengcm@ctihk.com
Investor Engagement
Ms. Peggy Chan
+852 3145 6068
Fax: +852 2199 8655
investor_engagement@ctihk.com
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