Telco profits from growing user base
By Zhu Shenshen |
March 17, 2011, Thursday
|
Print Edition
Print Edition
CHINA Mobile's net profit rose 3.9 percent year on year in 2010 as it benefitted from a huge and growing number of users, the world's No. 1 telco said yesterday.
China Mobile also disclosed it will boost its capital expenditure by 6.45 percent to 132.4 billion yuan (US$20.06 billion) in 2011 to upgrade network, including 3G, and expand Wi-Fi coverage across the country.
The telco earned 119.64 billion yuan in net profit last year, beating analysts' forecast of 118.78 billion yuan.
The net profit also increased from 115.17 billion yuan in 2009.
Its revenue gained 7.3 percent to 485.2 billion yuan last year.
"By leveraging the scale of network, customer base and strong customer service system, we improved (our) overall competitive positioning, solidified those qualities that differentiate (our) business and achieved steady business development," China Mobile said in a statement.
The telco boasts a customer base of 584 million by the end of last year, a jump of 11.8 percent from a year ago.
China Mobile's capital expenditure is expected to fall to 130.4 billion yuan in 2012 and 125.5 billion yuan in 2013. Its investment will be channeled into 3G networks, Wi-Fi networks, Internet of Things and mobile payment services, industry insiders said.
China Mobile also disclosed it will boost its capital expenditure by 6.45 percent to 132.4 billion yuan (US$20.06 billion) in 2011 to upgrade network, including 3G, and expand Wi-Fi coverage across the country.
The telco earned 119.64 billion yuan in net profit last year, beating analysts' forecast of 118.78 billion yuan.
The net profit also increased from 115.17 billion yuan in 2009.
Its revenue gained 7.3 percent to 485.2 billion yuan last year.
"By leveraging the scale of network, customer base and strong customer service system, we improved (our) overall competitive positioning, solidified those qualities that differentiate (our) business and achieved steady business development," China Mobile said in a statement.
The telco boasts a customer base of 584 million by the end of last year, a jump of 11.8 percent from a year ago.
China Mobile's capital expenditure is expected to fall to 130.4 billion yuan in 2012 and 125.5 billion yuan in 2013. Its investment will be channeled into 3G networks, Wi-Fi networks, Internet of Things and mobile payment services, industry insiders said.
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