China Telecom profit rises as internet, mobile data businesses grows
BEIJING: China Telecom , one of the country's three main state-owned carriers, said that its profit rose 11.8% in the first half of the year as its internet and mobile data businesses grew.
The Beijing-based company earned 11.4 billion yuan ($1.9 billion), or 0.14 yuan (2 US cents) per share, in the six months that ended on June 30. Revenue rose 5.3% to 165.9 billion yuan ($27.2 billion).
Profits for China Telecom and its rivals, China Mobile and China Unicom, have been squeezed by intense competition and the costs of rolling out fourth-generation service. Regulators rearranged the industry in 2008 to encourage competition and innovation by assigning each carrier mobile and fixed-line assets.
The companies are promoting mobile, internet, online commerce and other value-added services as demand for traditional fixed line telephones declines.
China Telecom's number of mobile subscribers declined by 3% in the first half to 180 million but mobile data usage rose by 30%. Revenue for the company's internet data centers also rose by 30%.
China Mobile reported earlier its first half profit fell by 8.5% as the company spent heavily to roll out 4G service.
BEIJING: China Telecom , one of the country's three main state-owned carriers, said that its profit rose 11.8% in the first half of the year as its internet and mobile data businesses grew.
The Beijing-based company earned 11.4 billion yuan ($1.9 billion), or 0.14 yuan (2 US cents) per share, in the six months that ended on June 30. Revenue rose 5.3% to 165.9 billion yuan ($27.2 billion).
Profits for China Telecom and its rivals, China Mobile and China Unicom, have been squeezed by intense competition and the costs of rolling out fourth-generation service. Regulators rearranged the industry in 2008 to encourage competition and innovation by assigning each carrier mobile and fixed-line assets.
The companies are promoting mobile, internet, online commerce and other value-added services as demand for traditional fixed line telephones declines.
China Telecom's number of mobile subscribers declined by 3% in the first half to 180 million but mobile data usage rose by 30%. Revenue for the company's internet data centers also rose by 30%.
China Mobile reported earlier its first half profit fell by 8.5% as the company spent heavily to roll out 4G service.
Posts
No comments:
Post a Comment