TAIPEI (Taiwan News) — FarEasTone said Monday it aims to achieve a 50% 5G penetration rate this year following strong revenue performance last year.

The company said at a media briefing that it benefited from its merger with Asia Pacific Telecom, reaching new operational peaks last year, per CNA. Earnings per share hit an 11-year high, and its market capitalization surpassed NT$300 billion (US$9.12 billion) for the first time.

FarEasTone President Ching Chee (井琪) said the company’s user base continues to grow, with 5G postpaid penetration reaching 43% by the end of last year. Moving forward, it will focus on strengthening market competitiveness and leveraging AI to create greater value for customers, shareholders, and society, per CNA.

The company has pursued digital transformation, with profit growth jumping from 8% to 19% last year, per UDN. For enterprise customers, revenue from smart information and communication technology solutions and cloud services grew by 30% annually.

Far Eastern Group Chair Hsu Hsu-tung (徐旭東) said 2024 was a strong year, and 2025 looks promising. Following its merger with Asia Pacific Telecom in 2023, the company has seen strong performance.

“However, we must not be complacent,” he said. “Innovation and growth are essential because technology evolves rapidly. I look forward to FarEasTone reaching new heights this year.”

Regarding the broader economy, Hsu was optimistic about the retail sector and said plans are underway to add three to four stores.