China Telecom's first quarter net profit totals more than 42.7 billion yuan

17:01, April 30, 2010      

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China Telecom recorded revenue of more than 52.7 billion yuan in the first quarter of 2010, up nearly 4 percent from last year. Its quarterly net profit dropped by 9 percent to slightly more than 42.7 billion yuan, but rose by 127 percent from the fourth quarter of 2009, according to its 2010 First Quarter Earnings Report released on Apr. 28.

China Telecom disclosed for the first time the number of its 3G subscribers. As of the end of March, the company gained a total of more than 5.6 million 3G subscribers and more than 65.5 million mobile subscribers. In addition, more than 9.4 million mobile subscribers were added in the first quarter.

The number of its fixed-phone subscribers decreased by more than 4.3 million to 184 million, while the number of broadband subscribers increased by more than 2.4 million to more than 55.8 million.

The company said there will be more mobile subscribers and less fixed-phone subscribers, and the number of fixed-phone subscribers will continue to decrease as a result of factors such as the cancellation of China's Personal Hand-phone System (PHS) network.

However, the number of mobile and fixed-line broadband subscribers is maintaining momentum for steady growth, up nearly 17 percent and more than 4 percent, respectively, from the fourth quarter of 2009.

The company disclosed in early 2010 that it will increase the number of its mobile subscribers to 100 million within this year and launch the "100Mbps FTTH (Fiber to the Home) Project." Over the next three to five years, the current broadband network will be transformed into a fiber network so users in cities can enjoy faster Internet access with speeds of up to 20 Mbps. Moreover, all commercial buildings in major Chinese cities will be completely equipped with fiber optic cables, and home users will enjoy download speeds between eight and 20 Mbps.

People's Daily Online


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