China Telecom 3G subscribers up 76%
September 30, 2010 Category Uncategorized
China Telecom has emerged as a formidable challenger to the two larger and more experienced domestic mobile network operators, China Mobile and China Unicom. The number of its 3G subscribers rose by 76.4% to 7.18 million as of June 30 this year from 4.07 million at the end of last year. Its 3G user base is still smaller than rival China Mobile’s 10.5 million and China Unicom’s 7.5 million at the end of June. Chairman and Chief Executive Wang Xiaochu said the carrier would boost capital spending this year to CNY44 billion from the original budget of CNY39 billion to step up its nationwide broadband coverage after posting solid earnings in the first six months of the year to beat analysts’ estimates. China Telecom recorded a 4.7% increase in first-half net profit to CNY8.81 billion on solid gains from its mobile and fixed-line broadband businesses. Earnings before interest, taxes, depreciation and amortization (ebitda) climbed 5.6% to CNY45.76 billion. China Telecom had 58.33 million broadband users in the first half and plans to add another 20 million users by next year. The total number of 2G and 3G subscribers with China Telecom advanced 32.9% to 74.52 million in the first half. China Mobile remains the country’s dominant cellular services provider with a total of 558.93 million subscribers as of July.
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