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October 31, 2009

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Sales of 3G products lift Datang Telecom profit

DATANG Telecom's net profit surged 18 percent in the third quarter, thanks to a rise in sales of 3G products, the Shanghai-listed firm said yesterday.

Its net income totaled 24.25 million yuan (US$3.56 million) from July to September, compared with net profit of 20.56 million yuan in the same period of last year. Its revenue came to 702 million yuan, a jump of 33 percent from a year ago, Datang Telecom said in a statement to the Shanghai Stock Exchange

Datang Telecom sells software, 3G TD-SCDMA (time division-synchronous code division multiple access) chipsets and other 3G products.

In the first nine months of this year, Datang Telecom's revenue grew 26 percent year on year to 2.18 billion yuan. Its net profit from January to September was 38.96 million yuan, up 37.88 percent from a year ago.

In January, China issued 3G licenses to China Unicom and China Telecom as well.

Datang Telecom fell 2.06 percent to close at 11.39 yuan, compared with a 1.2-percent gain for the benchmark Shanghai Composite Index yesterday.



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