Tie-up with Apple rings up earnings for telco
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E-mail Shanghai Daily, March 22, 2013
China Unicom Thursday reported a 68-percent jump in net profit in 2012 year on year, thanks to its cooperation with Apple Inc on iPhone as well as surging wireless data income.
The country's second biggest mobile carrier said its net profit was 7.1 billion yuan (US$1.1 billion) last year, up 68.5 percent from a year ago. By comparison, market leader China Mobile's net profit gained only 2.7 percent annually in 2012 while smaller rival China Telecom recorded a 9.5-percent fall in net profit.
China Unicom's revenue was 248.9 billion yuan in 2012, up an annual 19 percent.
In the fourth quarter, China Unicom posted a net profit of 1.6 billion yuan, surpassing the 1.41 billion yuan average of eight analysts estimates surveyed by Bloomberg News.
Being a partner with Apple on the iPhone has helped China Unicom, which operates the popular and commercially more mature WCDMA 3G technology, to get a boost in high-volume data services and wireless data income.
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