Hutchison Telecom profit dives 79pc to $31m

Hutchison Telecom (0215) recorded an interim profit of HK$31 million, down 79 percent year-on-year.

Earnings per share were 0.64 HK cents, with revenue increasing 29 percent to HK$2.565 billion in the first half of the year.

Revenue from roaming fell by HK$94 million, or 43 percent, compared with the same period last year, and HK$20 million, or 14 percent, compared with the second half of 2020, under travel restrictions.

However, local service revenue reported steady growth of 4 percent, or HK$60 million, compared with the same period last year. In particular, surging demand for corporate solutions gave rise to an encouraging 58 percent growth compared with the first six months of 2020.

The board declared a one-off special interim dividend of 19.80 HK cents per share for the first half of this year. Combined with the interim dividend, total dividends amount to 22.08 HK cents per share for the first six months of 2021.

Meanwhile, JPMorgan Chase predicted that the iPhone 14 will be made of titanium alloy.

The iPhone 13 is expected to be released this year, but JPMorgan Chase has already made a prediction about the upgrade in the iPhone 14. According to information from relevant sources in the supply chain, JPMorgan Chase said the high-end flagship models will be made of titanium and other alloys instead of aluminum and stainless steel.

This will be the first time that Apple will use titanium in its smartphone products.