China Unicom (762.Hong Kong/CHU) soared 4.4% after reporting its full-year results. In 2016, net profit at China Unicom tumbled 94% from a year ago, in line with the company’s profit warning announced on January 26.…
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China Unicom profit plunges 94% in 2016
China Unicom posted service revenue of CNY 240.98 billion in 2016, up 2.4 percent year-on-year. EBITDA amounted to CNY 79.50 billion, down 9.1 percent year-on-year and accounting for 33 percent of service revenue. Profit reached…
China Unicom's profits plunge as it battles competition
Increasing competition has hit the country’s major telecommunications company China Unicom which has reported a 94 percent plunge in net profits to 625 million yuan ($90.7 million). The carrier’s annual report, released on Wednesday, shows…
Unicom posts lower profit, sales
HONG KONG－State-owned China Unicom Hong Kong Ltd reported a drop in revenue and profit for 2016 due to a huge investment in 4G and broadband network infrastructure, amid fierce competition among domestic telecom heavyweights. The…
China Unicom (Hong Kong) Limited (CHU) Rating Increased to Buy at Deutsche Bank AG
China Unicom (Hong Kong) Limited (NYSE:CHU) was upgraded by equities researchers at Deutsche Bank AG from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. Separately, Nomura downgraded shares…
What will die first, cash or password?
The growth in mobile payments will spur the development of China’s digital verification industry. According to the latest report released by domestic consulting company iResearch, the market scale of China’s third-party mobile payment more than…
Chinese tech titan Alibaba invests 1 billion yuan in mobile gaming distribution
The company is investing 1 billion yuan in an alliance with a handful of other mobile gaming firms to distribute offerings between China and other parts of the world. Getting mobile games in front of…
China beats India hollow in net access, smartphone ownership
Smartphone ownership in China has jumped 31 percentage points since 2013, but in India it has increased by only six points during the same time period. While virtually every Chinese person surveyed owns at least…
China outpaces India in internet access, smartphone ownership
Reported smartphone ownership in China has jumped 31 percentage points since 2013, but only 6 points in India over the same time period. And while virtually every Chinese person surveyed owns at least a basic…
China adds Pinterest to list of banned sites
China’s Great Firewall is cracking down on Pinterest, the social media platform popular for letting users share, or pin, items of interest to a virtual board. For years, Pinterest has been freely accessible in China,…
China Unicom tightens belt as profits plunge
HONG KONG — Struggling to gain a foothold in China’s fourth-generation (4G) wireless telecommunication markets, Beijing-based China Unicom reported lackluster results on Wednesday and plans to cut back outlays in preparation for its next move.…
China Unicom says removal of domestic roaming fees will trim 1.6bn yuan in quarterly revenue
China Unicom, the world’s sixth-largest mobile network operator by subscribers, has estimated the cancellation of domestic roaming fees will cost it about 1.6 billion yuan (US$231 million) in lost revenue each quarter, which may complicate…
China Unicom posts 94pc slump in 2016 net profit
China Unicom, the world’s sixth-largest mobile network operator by number of subscribers, reported widely expected downbeat earnings for last year on Wednesday, as its senior management burnished investors’ hope for a turnaround this year. “The…
