Chunghwa Telecom boosts investment for 2021 to $1.5 billion

Chunghwa Telecom boosts investment for 2021 to $1.5 billion

Chunghwa Telecom boldly unveiled plans to increase capital expenditure by 82.8% to TWD43.15 billion ($1.5 billion) for this year, with plans including to accelerate the deployment of 5G networks and develop products and services catered to the B2B sector.

In an earnings guidance for 2021, chairman and CEO Chi-Mau Sheih, said: “We remain focused on 5G development and business transformation initiatives in an effort to improve people's lives, better manage across industries, and enhance manufacturing efficiency.”

He said the operator will combine the above initiatives with mergers and acquisitions to “enhance its competitive advantages” as it pursues “new growth opportunities” in a post-pandemic market.

Chi-Mau pledged the company will “accelerate 5G network construction” to capitalise on its leading position in Taiwan, and with an eye on the B2B sector, Chunghwa will deploy enterprise 5G networks and develop applications with business partners.

On the back of its increased investment, the company forecasts revenue growth in its mobile and ICT business, which will offset a decline in fixed-line voice calls.

Future investments will go into developing core business, new services and products to support the government’s epidemic prevention initiatives.

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