These 2 small players are the biggest threats to StarHub's broadband segment

Its fibre broadband market share is just 21.2%.

According to CIMB, StarHub is concerned about the rapidly-commoditising broadband revenue and views the smaller fibre broadband players as the biggest threats.

CIMB noted that competition in fibre broadband is increasing, mainly sparked by the smaller players like MyRepublic and ViewQuest. Over the last six months, operators have raised broadband speeds while maintaining the price of their plans.

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As broadband speeds are offered at lower prices, we believe ARPUs will come under pressure as consumers down-trade to lower-priced plans but are still able to enjoy good surfing speeds.

As at Dec 2012, StarHub's market share of fibre broadband was only 21.2%, slightly above M1’s (18.6%) and substantially below SingTel's (60.2%).