Unicom profits down

29 Apr 2005

China’s second largest mobile operator, China Unicom, has seen its first-quarter net profit slump 26% year-on-year despite its continued subscriber growth. The company, which had 116.41 million customers at the end of March, up from 112.08 million at the start of the year, said net profit for the first three months of 2005 was CNY1.06 billion (USD128 million) compared to CNY1.44 billion in the same period last year. The fall was attributed to the rollout of new CDMA mobile networks. Revenues grew from CNY19.49 billion to CNY20.86 billion (USD2.52 billion).

China, China Unicom