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July 21, 2009

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Datang Telecom profits up 70%

DATANG Telecom Technology Co's net profit jumped 70 percent year-on-year in the first half, thanks to the booming sales of 3G products, the Beijing-based firm said yesterday.

The domestically listed telecommunications firms, including Datang Telecom, ZTE Corp and China Unicom, benefit from the launch of 3G in China, the world's biggest mobile phone market, analysts said.

Datang Telecom's net profit in the first six months climbed 70 percent from 7.69 million yuan (US$1.13 million), according to a Datang Telecom's statement delivered to the Shanghai Stock Exchange.

"The 3G has become an important profit engine, and it will bring us more income," Datang Telecom said in the statement.

Datang Telecom's products include 3G data cards, 3G phones and related microelectronics and software.

The company shares yesterday surged 3.49 percent to close at 10.96 yuan, compared with the local benchmark index growth of 2.42 percent.

Shanghai-listed China Unicom rose 2.82 percent to close at 7.28 yuan.

China Unicom is in talks with Apple Inc to introduce iPhone 3G into the domestic market, which will help it catch up with market leader China Mobile, industry insiders said.

Shenzhen-listed ZTE, China's biggest public telecommunications maker, surged 5.31 percent to close at 33.50 yuan.

In January, China issued licences to operate 3G networks, which give users high-speed data services, such as video calls and film downloading to handsets.

Within three years, China will invest a total of 400 billion yuan in 3G, according to the Ministry of Industry and Information Technology.



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