PHS operator Fitel reports continued losses for 1H09
Harris Lin, Taipei; Steve Shen, DIGITIMES [Tuesday 1 September 2009]
Taiwan-based PHS operator First International Telecom (Fitel) saw a 28% on-year decrease in its first half 2009 revenues falling to NT$1.51 billion (US$45.92 million). However, the net loss of NT$1 per share was an improvement from a loss of NT$2.99 per share for the first half of 2008, according to the company.
The PHS operator said it plans to raise additional funds in October 2009 in order to build up its WiMAX networks in the northern part of Taiwan.
Although the carrier has setup a total of 52 WiMAX base stations in Taipei City, it will be difficult for Fitel to cover up to 70% of the area of Taipei City before March 31, 2010, said market sources, noting that 70% coverage is a prerequisite for a WiMAX licensee to launch its commercial services in a specified area as required by Taiwan's NCC (National Communications Commission).
As a result, Fitel plans to kick off its WiMAX services in Hsinchu City initially in order to retain its WiMAX license, said the market sources.