China Telecom gains from 3G and data
Print Edition
China Telecom Corp, the country’s third-biggest mobile phone company by users, achieved a better-than-expected gain of 20 percent in quarterly profit as it benefitted from an increased 3G user base and data income.
The telco’s net profit rose to 4.5 billion yuan (US$740 million) in the third quarter, exceeding the 4.41 billion-yuan average of three analyst estimates compiled by Bloomberg News.
Wang Xiaochu, China Telecom’s chairman, yesterday attributed the growth in net profit to 3G users and iPhone owners, who subscribe to heavy data packages and various value-added services.
The telco’s revenue jumped 12 percent in the three months ended September 30 to 80.7 billion yuan.
China Unicom also posted strong net earnings while the net profit of China Mobile, the world’s No. 1 mobile carrier, fell slightly.
By the end of September, China Telecom had 96.5 million 3G users, over half of its total user base of 181 million. But it still lags China Mobile’s 755 million users and China Unicom’s 273 million users.
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