Telco SmarTone has announced its sudden departure from Macau's mobile market.
The company confirmed that it has reached an agreement with another telco, CTM, to ensure customers are connected for the remainder of their agreed contract period.
"SmarTone Macau has decided to cease the provision of mobile communication services in Macau after thorough business consideration," said the company in a statement on August 21.
Macau's regulator, the Post and Telecommunications Bureau, stated that SmarTone submitted a request to forfeit its 4G license, while it's also opted against renewing its 3G license.
The company did not offer 5G services.
Macau Post Daily reports that SmarTone is working with the Labour Bureau to place “suitable current employees” at CTM.
SmarTone's exact market share is unknown, but is referred to as "low" by the regulator.
The company's exit from the market means that there will be three telcos in the market, CTM, China Telecom, and 3 Macau.
SmarTone is a subsidiary of Hong Kong-based Sun Hung Kai Properties. The telco began offering mobile services in Macau in 2001, when it launched its 2G network. It launched 3G in 2010, before going live with 4G in 2015.
