Telco profits from rise in users
By Zhu Shenshen |
March 19, 2010, Friday
|
Print Edition
Print Edition
CHINA Mobile Ltd, whose user base accounts for half of the country's total phone subscribers, posted a better-than-expected net profit in 2009 due to an increase in users.
In 2009, the telco's net profit grew 2.3 percent annually to 115.2 billion yuan (US$16.94 billion), slightly higher than analysts' estimate of 114.8 billion yuan.
The telco's revenue climbed 9.8 percent annually to 452.1 billion yuan
China Mobile added 65 million subscribers last year to bring its total number of subscribers to 522.28 million at the end of December, half of the country's total phone user base of 1.06 billion, according to figures by the Ministry of Industry and Information Technology.
The telco aims to speed up its penetration of mobile Internet and mobile financial services, such as mobile reading and payment, said Wang Jianzhou, its chairman.
In 2010, China Mobile will trim capital spending from 129.4 billion yuan last year to 123 billion yuan, the telco said. In 2011, it will fall further to 98 billion yuan.
In 2009, the telco's net profit grew 2.3 percent annually to 115.2 billion yuan (US$16.94 billion), slightly higher than analysts' estimate of 114.8 billion yuan.
The telco's revenue climbed 9.8 percent annually to 452.1 billion yuan
China Mobile added 65 million subscribers last year to bring its total number of subscribers to 522.28 million at the end of December, half of the country's total phone user base of 1.06 billion, according to figures by the Ministry of Industry and Information Technology.
The telco aims to speed up its penetration of mobile Internet and mobile financial services, such as mobile reading and payment, said Wang Jianzhou, its chairman.
In 2010, China Mobile will trim capital spending from 129.4 billion yuan last year to 123 billion yuan, the telco said. In 2011, it will fall further to 98 billion yuan.
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