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IT: China Unicom marches on Updated: 2006-03-24 15:09
China Unicom Ltd, the mainland's number two mobile carrier, beat forecasts
yesterday with a 9.7 per cent rise in 2005 earnings even as rival China Mobile
grabbed market share. Unicom earned 4.93 billion yuan (US$613.9 million). The
result beat a consensus of 4.74 billion yuan, according to the average of 26
analysts polled by Reuters Estimates. Unicom's net subscriber additions have
languished since mid-2005, while China Mobile has been achieving high net user
additions. But with most of the mainland's wealthiest customers signed up, both
firms have had to look to less affluent customers for growth, dampening profits.
(HK Edition)
China Unicom is seeking local or foreign partners to participate in its CDMA
mobile service business, raising concerns the company may offload the
loss-making operation in the future. Chairman Chang Xiaobing said that
local or foreign firms could help to turn around the CDMA business. (South
China Morning Post)
China's high-tech products will increase from 28.6 percent of total exports
last year to 35 percent by 2010 as the nation focuses on innovation, the
National Development and Reform Commission said yesterday on its
Website. China will employ favorable tax policies and other incentives to
support the computer, telecommunications and integrated-circuit industries and
encourage companies to develop products based on homegrown intellectual
property, according to new guidelines. (Shanghai Daily)
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