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Is M1 hurt by not joining the pay-TV bandwagon?
Its innovative new services are big factors.
M1's lack of a pay-TV service offering seems questionable, being one of Singapore’s incumbent telcos. However, analysts say its lack thereof is not a handicap, as it could easily fill the pay-TV gap with the bundling of multiple services and multiple mobile lines.
According to analysts from UOB Kay Hian, even though it lacks in pay-TV offerings, M1 continues to distance itself from its competitors such as Data Passport and mySIM.
"To date, M1 has garnered a subscriber base of 114,000, representing a market share of 9.7% for fixed broadband. 90% of M1’s fibre broadband subscribers also use M1 for mobile services," UOB Kay Hian said.
Meanwhile, its Data Passport service entices Singaporeans who love to travel overseas without worrying about incurring hefty roaming charges. Its mySIM post-paid plans also rake in more customers who prefer to buy their own smartphones.
Analysts also added that M1 has reason to hope for the lack of a fourth mobile operator in the market.
"M1 provides attractive free cash flow yield of 6.3% and would rebound the strongest in the event that we do not have a fourth mobile operator," UOB Kay Hian said.
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