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MarketScreener Homepage  >  Equities  >  Taiwan Stock Exchange  >  Chunghwa Telecom Co., Ltd.    2412   TW0002412004

CHUNGHWA TELECOM CO., LTD.

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Nokia wins Taiwan Mobile 5G contract worth $450 million

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06/29/2020 | 03:18am EDT
FILE PHOTO: The logo of Nokia is seen before the company's news conference in Espoo

By Supantha Mukherjee

Finnish telecoms equipment maker Nokia Oyj said on Monday it has won a 5G contract worth about 400 million euros ($449.48 million) from Taiwan Mobile to build out the telecom operator's next-generation network as the sole supplier.

A supplier to Taiwan Mobile's earlier networks, Nokia will prepare for the deployment this month and complete the migration to 5G standalone within a three-year period.

Nokia, along with Nordic rival Ericsson, has picked up most of the 5G contracts in Taiwan.

While Nokia also won 5G contracts from Taiwan Star https://www.nokia.com/about-us/news/releases/2020/05/18/nokia-selected-by-taiwan-star-telecom-as-5g-network-provider and Chunghwa https://www.nokia.com/about-us/news/releases/2020/03/18/nokia-secures-5g-contract-with-chunghwa-telecom Telecom, Ericsson picked up the deal with Far Eas Tone https://www.ericsson.com/en/press-releases/2020/3/far-eastone-selects-ericsson-for-5g#:~:text=Ericsson%20(NASDAQ%3A%20ERIC)%20has,Access%20Network%20(RAN)%20vendor.&text=FET%20expects%20the%20first%20commercial,during%20summer%202020%20in%20Taiwan and a part of the contract from Chunghwa.

To offset hurdles faced last year, the Finnish telecom operator has been scripting a turnaround by diversifying its chipset supply and grabbing 5G deals. Earlier this month, Nokia picked up 5G contracts from Canada's Bell Canada and Telus Corp, along with an order from a Singapore telecom operator.

However, Nokia did not win any 5G radio contracts from Chinese telecom companies - China Mobile, China Unicom and China Telecom - in recent bidding rounds, excluding a part of China Unicom's 5G core network contract.

Huawei [HWT.UL], ZTE and Ericsson got all the 5G radio contracts from the three top vendors in China.

($1 = 0.8899 euros)

(Reporting by Supantha Mukherjee in Bengaluru, Editing by Sherry Jacob-Phillips)

Stocks mentioned in the article
ChangeLast1st jan.
CHINA MOBILE LIMITED -0.64% 54.05 End-of-day quote.-17.48%
CHINA TELECOM CORPORATION LIMITED -0.44% 2.28 End-of-day quote.-28.97%
CHUNGHWA TELECOM CO., LTD. -0.45% 109.5 End-of-day quote.-0.45%
ERICSSON AB -0.38% 88.12 Delayed Quote.8.34%
NOKIA OYJ -1.44% 3.738 Delayed Quote.14.93%
TAIWAN MOBILE CO., LTD. 0.00% 116 End-of-day quote.3.57%
TELUS CORPORATION -0.04% 23.56 Delayed Quote.-7.88%
ZTE CORPORATION -4.64% 42.72 End-of-day quote.20.71%
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Financials
Sales 2020 208 B 7 066 M 7 066 M
Net income 2020 31 739 M 1 077 M 1 077 M
Net cash 2020 2 543 M 86,3 M 86,3 M
P/E ratio 2020 26,9x
Yield 2020 3,67%
Capitalization 849 B 28 775 M 28 833 M
EV / Sales 2019
EV / Sales 2020 4,07x
Nbr of Employees 21 661
Free-Float 58,9%
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Mean consensus UNDERPERFORM
Number of Analysts 15
Average target price 94,12 TWD
Last Close Price 109,50 TWD
Spread / Highest target -3,20%
Spread / Average Target -14,0%
Spread / Lowest Target -26,9%
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NameTitle
Shui-Yi Kuo President, GM & Chief Financial Officer
Chi-Mau Sheih Chairman
Shin Yi Chang Director
Cheng Jan Chen Independent Director
Lou Yu Yan Independent Director
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