Fixed-line revenue hit by mobile broadband

CHINA Telecom yesterday said net profit fell 17 percent year on year in the fourth quarter due to the popularity of mobile broadband which eroded income from the traditional fixed-line phone business.

The country’s biggest fixed-line network operator earned a net profit of 2.36 billion yuan (US$375 million), beating the 2.04 billion yuan estimate of analysts surveyed by Bloomberg News. Its revenue in the fourth quarter rose 17 percent to 73.1 billion yuan from 62.6 billion yuan a year earlier….. read more

Source: shanghaidaily.com  

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