Harry - thank you for your comment. I share your view that the NBN may be a white elephant in the years to come, if technologies new to Australia are approved and rolled out here. High speed mobile internet is likely to supercede the NBN, hence TPG's move to mobile. The key advantage of TPG over Telstra and Optus is its low cost, highly efficient operation and its ability to make decisions thanks to David Teoh's ownership stake and the support of Soul Patts. TPG has significant scale and a number of brands. Its customer service runs laps around Telstra. In a commoditized business these advantages are significant.
Agree with both previous comments. 5G is going to cause an issue for NBN. Furthermore, for all the talk of being a low cost provider, TPG (and the other Telcos) have no real value proposition for a large proportion of existing ADSL 2+ subscribers who are happy with their existing 12-20 Mbps speeds. The best NBN equivalent plan from any of the Telcos costs more, is not guaranteed to be faster, requires up front fees and min 2 year lock in. The only reason offered as to why I would want to take up an NBN plan now is that I will "eventually be forced to" (another dud Government initiative if I've ever seen one). The Telcos know they have no value proposition which is why they are indulging in aggressive and unconscionable sales tactics now - ultimately they fear there is a very real risk that alternatives are just around the corner. No thanks - I'll hold off on moving to NBN and buying TPG shares.
I'm a holder of TPG shares and although a price decline is never welcome I'm also optimistic in the long-term. Teoh's main target is the NBN, not Telstra as such or even other telcos. He wants to pick the eyes out of the most profitable broadband customers, in the cities. That's why only covering 80% of the Oz population doesn't matter. No big deal if he loses one of two customers because they can't get voice reception in Broken Hill. Teoh's high density customers will then be aggregated via fiberTTB or 700MHz onto TPG's owned fiber infrastructure. The way to make a buck is end-to-end ownership. Of course Telstra will also be a casualty. You can easily imagine a scenario where in 10-15 years TPG, not Telstra is Australia's largest "telco".
TPG has significant system and complinace problems. Our area was switched over to the NBN on 11 August 2017, but TPG is still invoicing and charging customers credit cards for ADSL services it has not been able to supply since that date and making it difficult to get the money back.