Here's why M1 may not benefit from the Android craze

Impact of iPhones revenue still lingers.

According to DBS, the rising popularity of Android phones may not help M1 in FY13F. M1’s use of fair value accounting for iPhones (heavily sold in 4Q12) will have a lingering impact on service revenue in FY13F.

Here's more:

DBS also adds that while M1 has raised its monthly service pricing, it also raised its handset subsidy. This is also reflected in subsidy burden of S$19m in 1Q13 on a small handset sale of only S$43m.

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