Chunghwa Telecom Applauded by Frost & Sullivan for Exceptional Customer Value with 5G and Market-leading Telecom Innovation
Chunghwa Telecom leverages its widest and fastest 5G mobile network to better assist customers with digital transformation and meet the demands of smart applications.
SAN ANTONIO, Sept. 16, 2024 /PRNewswire/ -- Frost & Sullivan recently researched the telecom and 5G industries in Taiwan and, based on its findings, recognizes Chunghwa Telecom with the 2024 Taiwanese Company of the Year and Customer Value Leadership Awards. The company is an integrated service provider that owns most of Taiwan's fixed-line infrastructure (supplemented by undersea cables and satellite coverage), and is the largest mobile operator in Taiwan. It provides 99% 4G population coverage nationwide and, unlike its peers, offers critical data services to the consumer and enterprise segments anywhere and anytime—even in remote and rural areas. With its 5G service already covering 97.6% of the country's population and offering 361.83 Mbps median download speed, the company is leading the way with 5G and is at the forefront of 5G application development. Its strategic use of AI technology helps address customers' unmet needs, such as transitioning toward net zero emissions and environmental sustainability. In combination with 5G and video streaming services, AI also enhances the audio-visual experience for customers.
Chunghwa Telecom's 5G standalone (SA) architecture enables network slicing for dedicated channels that can withstand peak-hour traffic, making it suitable for large-scale 5G applications that require guaranteed bandwidth. With 5G SA powering network slicing, the company can more adequately address market demand for 5G applications and take traditional 5G private network construction to the next level. Chunghwa Telecom's 5G accelerator helps Taiwanese start-ups develop and commercialize 5G applications that meet industry needs, and the company has successfully empowered many enterprises across various industries. Its 5G private networks have created a stable revenue stream and expanded its market share in the space, contributing to double-digit year-on-year (YoY) revenue growth of its ICT business in 2023.
Mei Lee Quah, research director for ICT at Frost & Sullivan, observed, "Chunghwa Telecom consistently drives the development of new business applications and strives to provide customers with faster and more convenient services that offer more value. As an example, the company is currently helping advance cybersecurity technologies to create new business opportunities, especially solutions that address consumer privacy risks and personal information rights, as well as the security of business operations and governance. With new 5G capability, it is also creating a new wave of smart services that provide customers with higher-quality services and digital applications."
Chunghwa Telecom's customer satisfaction and experience differentiate it from competitors. The company's innovative 5G applications and strong reputation for customer service have pushed 5G subscriptions to exceed 3 million. The company leads the telecom market with 11.22 million mobile (non-IoT) and 1.92 million IoT subscriptions, a significant share of the Taiwanese 127.5% mobile phone penetration rate nationwide. Its long-term relationships with customers drive brand loyalty and strength beyond Taiwan—the brand is recognized on global leaderboards. Chunghwa Telecom's robust 5G partner ecosystem allows the company to enter new markets and develop new revenue streams with first-to-market solutions that offer unique experiences and interactive services, increasing customer support for 5G. Additionally, its partnerships drive possibilities at a level above local competition and on par with global leaders. The company's increasing YoY revenue growth and mobile subscriber market share over the last four years testify to its leadership and outstanding performance in the telecom market ahead of competitors in Taiwan.
"Chunghwa Telecom addresses pain points and improves the lives of Taiwanese people with smart services that offer customers enhanced solutions and digital applications. The company's commitment to meeting and exceeding the needs of its customers with 5G is truly commendable and positions it far ahead of its competitors," added Quah. With its strong overall performance, Chunghwa Telecom earns Frost & Sullivan's 2024 Taiwanese Customer Value Leadership Award and Company of the Year Award in the 5G space and telecom industry, respectively.
Each year, Frost & Sullivan presents the Customer Value Leadership award to the company that has demonstrated excellence in implementing strategies that proactively create value for its customers with a focus on improving the return on the investment that customers make in its services or products. The award recognizes the company's unique focus on augmenting the value that its customers receive, beyond simply good customer service, leading to improved customer retention and customer base expansion. Additionally, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. This award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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About Chunghwa Telecom
Chunghwa Telecom (TAIEX 2412, NYSE: CHT) ("Chunghwa" or "the Company") is Taiwan's largest integrated telecommunications service provider in Taiwan, with leading offerings in fixed communication, mobile communication, broadband, and internet services. The Company also provides information and communication technology services to enterprise customers with its big data, cybersecurity and IDC capabilities, and is expanding its business into emerging technology services such as IoT, AI, etc. Chunghwa Telecom has actively and continuously engaged and implemented environmental, social and governance (ESG) initiatives with the vision to become an international benchmark enterprise built upon sustainable development and has won numerous international and domestic awards and recognitions for its ESG commitments and best practices.
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