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China Telecom looks to 4G rollout for growth

  • Author:naky
  • Source:www.diecastingpartsupplier.com
  • Release on:2015-07-24
China Telecom is looking to the rollout of fast-speed 4G services in China for future growth, as the domestic telecoms market becomes saturated even in the world's most populous country.

China Telecom, one of the largest telecom groups in China, ended 2014 with 186m mobile subscribers, but reported a net increase of only 40,000 subscribers year-on-year. Sales and profit growth was also slim: net income rose 0.8 per cent year-on-year to Rmb17.7bn on revenues of Rmb324.4bn, up 0.9 per cent year-on-year and missing analysts' estimates.

Chairman and chief executive Wang Xiaochu said on Wednesday he expects intensifying market competition to gradually lead to an era of competition for existing customers:

At present, China's economy has entered into the "new normal" of medium-high-level growth, and innovation will be the key driver for future development. The booming development of the "Consumption Internet" market along with the emerging "Industrial Internet" market in China will provide us with vast market potential.

Looking ahead, we have full confidence. We will seize the crucial opportunities from the issuance of 4G licence and the sharing of tower resources. We will increase our investment and promote the rapid development of our mobile services in full strengths, especially the profitable scale development of our 4G services.