“China Telecom Corp., the country’s third-biggest mobile phone operator by users, posted its second-straight gain in quarterly profit as subscribers with Apple Inc.’s iPhone helped boost data usage,” Bloomberg News reports.
“Net income rose 21 percent to 5.52 billion yuan ($902 million) in the second quarter, from 4.55 billion yuan a year earlier, the Beijing-based company said in a statement today,” Bloomberg News reports. “That beat the 5.25 billion-yuan average of five analyst estimates compiled by Bloomberg.”
Bloomberg News reports, “Chairman Wang Xiaochu is benefiting from an increase in users of third-generation mobile services and rising sales of data packages to download games and movies after introducing the iPhone last year. With 50 percent of its subscribers on 3G, China Telecom has surpassed both its larger rivals, China Mobile Ltd. and China Unicom Ltd., by that measure… China Telecom last year said the iPhone would help it achieve long-term sustainable growth even as it caused ‘short-term pressure’ on profitability. The company reported three straight declines in net income until last quarter, when it resumed growth.”
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MacDailyNews Take: The pressure increases on China Mobile to finally ink a deal with Apple for the company’s revolutionary, business-generating iPhone.
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