China Unicom more than doubles 2007 net profit

27 Mar 2008

China Unicom, the smaller of the country’s two wireless network operators, more than doubled 2007 net profit to RMB9.3 billion (USD1.33 billion) for the year to 31 December, compared to RMB3.8 billion in 2006. Total revenue for the year rose 4.4% to RMB99.54 billion, of which RMB94.64 billion was service revenue. Service revenue from its GSM business was RMB62.78 billion, while the figure for its CDMA arm was RMB27.73 billion. EBITDA climbed 9.5% to RMB32.44 billion. At the end of December 2007 China Unicom claimed 162.49 million wireless subscribers, of which 120.56 million were connected to its GSM network, up 23.2% year-on-year. Of this amount, post-paid customers accounted for 62.47 million and pre-paid 58.09 million.

China, China Unicom