皇冠体育app

皇冠体育app Unicom earnings rise 18% in 1st half
(CRIENGLISH.com)
Updated: 2004-08-27 15:52

皇冠体育app Unicom, the smaller of the nation's two mobile phone companies, says its first-half profit rose about 18 percent from a year earlier after buying networks from its parent.

But the company said a price war was eroding its earnings.

Net income was 2.81 billion yuan (US$340 million). Sales rose to nearly 40 billion yuan from about 32 billion yuan.

Profit for the second quarter, calculated by subtracting the first-quarter result from the first-half figures, jumped 27 percent to 1.4 billion yuan.

Earnings benefited from 皇冠体育app Unicom's decision to buy networks in 皇冠体育app's poorer provinces from its parent, 皇冠体育app United Telecommunications Group.

But the company says profit earned from each of Unicom's subscribers of either CDMA or GSM service, was falling and that the government will step in to stop a price war with its larger rival, 皇冠体育app Mobile.

皇冠体育app Mobile, which only offers GSM service, controls about two-thirds of the nation's cell-phone market, leaving Unicom with most of the rest.

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