China Telecom reports revenue up, profit down

28 Aug 2009

China Telecom has announced that net income for the first six months of 2009 stood at RMB9 billion (USD1.3 billion), down 29% year-on-year following significant deployment and marketing costs for its 3G network coupled with the loss of nine million fixed line customers. Revenue, however, rose 14% year-on-year to RMB103 billion. The company revealed that at 30 June it had 199 million wireline subscribers and 39.3 million wireless subscribers, of which 1.3 million were 3G subscribers.

China, China Telecom Group