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中電信搶客IPHONE 5將增補貼 @ 2012-08-23T17: Back Hot News
Keyword:中電信 半年 手機補貼
Concept:中國移動 , 中電信上半年IPHONE
*中電信(00728)半年手機補貼按年大增50.2%至115.44億人民幣
《國企紅籌》中電信半年手機補貼大增逾50%,至115億人民幣
摩根士丹利預期,中電信因推出IPHONE,上半年除息、稅、折舊及攤銷前盈利(EBITDA)率將有所下跌。高盛證券預期,中電信上半年IPHONE 4S銷量一般,預計下半年為催谷銷售,將加大補貼的力度,預期今年中期純利為90億元。瑞信則預計,上半年固網收入表現平穩,流動通訊業務的收入按年大升36%,不過,該行亦預期該公司因為補貼IPHONE及手機補貼成本一次過入帳等,令盈利倒退,中期純利約為88億元。然而,若中電信把IPHONE手機補貼能按平均兩年的合約期攤銷,上半年淨利潤應增長5至10%
內地電訊減價戰愈演愈烈,終於「流血」收場。率先派發成績表的中移動(941)在手機補貼激增,但人均月入(ARPU)卻反常減少下,半年僅多賺1.5%,第二季純利更意外地倒退,連穩健的公用股地位亦面臨不保。戰火之下,市場預期,下周派發業績的聯通(762)和中電信(728)同樣遭殃。業界人士直言,除非政府介入,否則減價戰於短期內難以收斂。

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