Extremely low prices will ruin the industry.
Singtel's big boss voiced fears that allowing a fourth telco into Singapore's mobile market will hurt the already-saturated industry, according to a report by Bloomberg.
Chua Sock Koong, Singtel's CEO, is worried that a fourth player will focus too much on price, which will in turn push incuments to slah prices aggressively.
“The only way that they can gain customers will be by way of reducing prices,” Chua Sock Koong said in a Bloomberg Television interview on Friday. “The existing operators would look at how best to respond. Clearly just leading prices down, it’s not good for the sustainability of the industry.”
Read the full report here.
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