M1's 2012 handset sales fail to reach its previous high in 2011

Android phones are at parity with the iPhone.

CIMB notes that 2012 handset sales rebounded strongly qoq but did not reach its previous high in 2011 (down 3% yoy). The strong rebound was spurred by the higher mix of iPhone5 sold in 4Q12.

"M1 also noted that sales for Android-based handsets have risen and are almost at parity with the iPhone. This bodes well for the operator as Android handsets are generally cheaper than iPhones and therefore M1 incurs a lower subsidy."

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