Unicom says sales up, profits down

26 Aug 2010

China Unicom has posted first-half revenue of RMB82.11 billion (USD12.1 billion), up 7.6% year-on-year. Of the total, half came from the company’s mobile unit as growth from wireless services (17.7%) more than offset a 2.4% decrease in fixed line revenues. EBITDA, however, fell 5.1%, while net income was down by more than 60% to RMB2.4 billion. Unicom says the fall in profitability is due to 3G network deployment costs, asset depreciation, marketing costs and the decline in the fixed voice business.

China, China Unicom