HONG KONG, July 18, 2016 /PRNewswire/ -- Hong Kong Broadband Network Limited ("HKBN" or "the company"), a major fibre broadband service provider in Hong Kong, announced today that the Office of the Communications Authority has licensed the company to offer mobile virtual network operator ("MVNO") services in Hong Kong. The expanded scope of its Services-Based Operator Licence allows HKBN to offer mobile telecom services by making use of the radio communications infrastructure of mobile network operators, and to sell mobile handsets and devices.
HKBN has signed Memorandum of Understanding with China Mobile Hong Kong, and is in discussions with two other local mobile network operators, with a view to launching HKBN mobile service to both the residential and corporate markets. It is anticipated that the soft launch of such service will begin as early as August this year.
"This is a strong move to maximize shareholder value by offering a full suite of fixed and mobile services, leveraging our quickly expanding broadband customer base of over 800,000 households," William Yeung, CEO & Co-Owner of HKBN said. "Replicating our success in the fixed broadband market, our mobile service will come with strong value propositions, aiming to delight customers with the best customer experience at highly competitive prices."
The addition of mobile service will form a strong part of the best-value quad-play offers by HKBN, comprising broadband, fixed-line telephone, OTT entertainment & sports, and mobile services.
"With majority of our executive level Talents invested their own savings to become Co-Owners of HKBN, we have shareholders' and customers' interests at heart. That is why we focus on delivering sustainable growth for the company, while seeking to disrupt the market by offering true values and benefits to customers," William Yeung continued.
About HKBN Group
HKBN Group ("HKBN") is Hong Kong's largest provider of residential high speed fibre broadband (symmetrical 100Mbps to 1,000Mbps) services by number of subscriptions, and a fast growing enterprise solutions provider. The Group offers a full range of telecommunications solutions for both the residential and enterprise markets, encompassing broadband and Wi-Fi network services, cloud solutions, data connectivity, data facilities, system integration and voice communications. HKBN owns an extensive fibre network in Hong Kong, which covers over 2.1 million residential homes passed, representing approximately 79% of Hong Kong's total residential units, and more than 2,200 commercial buildings. HKBN embraces "Make our Hong Kong a Better Place to Live" as its core purpose, and takes great pride in developing its 2,900 plus Talents into a competitive advantage. The Group is managed by over 340 Co-Owners who have invested their own savings to buy HKBN shares, representing the majority of supervisory and management level Talents in the Group. HKBN Group is a subsidiary of HKBN Ltd (SEHK Stock Code: 1310).
Issued by Hong Kong Broadband Network Limited
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SOURCE Hong Kong Broadband Network Limited