HONG KONG, Aug. 18, 2010 (GLOBE NEWSWIRE) -- City Telecom (HK) Limited (HKSE:1137) (Nasdaq:CTEL) announced that, effective from 1 September 2010, the special promotion of HK$99/month (US$13) for symmetric 100Mbps broadband service will be terminated. Whilst the new price of HK$169/month (US$22) plus HK$380 (US$49) installation fee represents a 70% increase on promotional rate, it nonetheless represents awesome value by global standards. Compared to US benchmark of Verizon FiOS's "Tier 3: Fastest" plan of 50 Mbps downstream and 20 Mbps upstream priced at US$139.95/month1, our symmetric 100 Mbps offers 18x2 better value on a dollar per bit basis.
Ms. June Lam, Associate Director, Marketing: "Today, Hong Kong is the third most advanced Fibre-To-The-Home market in the World, trailing only South Korea and Japan. At City Telecom, we are proud to have contributed to this positioning. Having surpassed our growth target of exceeding 500,000 subscribers, led by our temporary price promotions, it's now time for us to move beyond price and focus on extending our service quality lead."
For details on the latest printed advertisement and global Fibre-To-The-Home Ranking, please visit: http://reg.hkbn.net/ctigroup_admin/files_upload/PR_End_of_99promotionE.pdf
Notes
1. Per Verizon FiOS website : http://www22.verizon.com/residential/fiosinternet/#plans
2. Verizon FiOS of US$139.95/(50Mbps downlink + 20Mbps uplink) Versus CTEL bb100 of US$22/(100Mbps downlink + 100Mbps uplink)
About City Telecom/Hong Kong Broadband Network Limited
Established in 1992, City Telecom (H.K.) Limited (HKSE:1137) (Nasdaq:CTEL) provides integrated telecommunications services in Hong Kong via its own self-built fibre network. City Telecom's wholly-owned subsidiary, Hong Kong Broadband Network Limited (HKBN), is the fastest growing broadband service provider in Hong Kong. HKBN offers a diversified portfolio of innovative products that service over 1,027,000 subscriptions for broadband, local telephony and IP-TV. The Company has built a solid market position with top-of-the-line applications and practices enabling it substantial growth. The company takes great pride in developing its over 3,000 Talent force into a competitive advantage. Additional information on City Telecom can be found at www.ctigroup.com.hk.