China Unicom, the second-largest wireless carrier in China reported strong results last quarter with net profit growing 74% year-over-year (y-o-y) to RMB 3.3 billion ($536 million) on solid sales growth in the mobile and broadband businesses.
Te company has announced a profit jump of 26 per cent for the first half of 2014, as it focused on markets such as mobile broadband, against the backdrop of a “changing market environment and a slowing-down industry”.
In a statement, China Unicom said that “continuous revenue growth” and an “improvement in business structure” bolstered its profitability. It also benefited from a 23.7 per cent drop in interconnection revenue, to CNY7.57 billion.
According to China Unicom, its total mobile subscriber base increased by 14.02 million to 295 million in the first half of 2014, of which, mobile broadband subscribers rose 40.8 percent, accounting for 47.7 percent of total mobile subscribers.
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