Unicom reveals drop in net profit

26 Mar 2004

Chinese mobile operator China Unicom has reported a drop in net profit for the full-year 2003, ending the year with a figure of CNY4.22 billion (USD509 million), down 8.3% on 2002. The company attributed the loss to the sale of its paging business. Operating losses rose from CNY623.9 million to CNY1.2 billion, despite growing operational revenue by 66.7% to CNY67.6 billion. Unicom saw its GSM subscriber base grow by 19.6% to 63.9 million, while the total number of CDMA subscribers reached 27.6%, a rise of 170.8% in the year.

China, China Unicom