New Street Research Insights

Differentiated global TMT & Internet Research

New Street Research

Thematic (Sector/Industry)

Fibre/cable firms (Altnets) have a strong growth dynamic in most EMs and the potential to create value through wireless entry using small cells technology. Many EM telcos face stagnant growth and declining returns in contrast to opportunities in fibre. Rising middle classes in Asia will pay to have fibre in the home. What has been seen as a niche product will have wider resonance as income levels rise. We believe investors are materially underestimating the potential demand for fixed broadband and for the revenues that result. In some ways this is analogous to concepts of addressable markets for mobile operators in the early days of GSM.As we have seen in Europe, we expect a number of the fibre/cable payers to be acquired by cellular firms look to both remove potential competition and to ensure a strong fibre network to deal with soaring data usage.&nbsp;&nbsp;

Hong Kong

Telecom Digital Holdings Limited is a group of companies engaged in providing interactive mobile data services mainly in Hong Kong, mainland China and Macau.

Telecom Digital Holdings - 6033 HK

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