Chinese top telecos report dipping H1 profitability

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BEIJING
China’s three telecom giants reported dipping profitability in the first half (H1) of this year while planning for more investment in 5G commercial use. China Mobile, China Telecom and China Unicom made total net profits of 76.849 billion yuan (about 10.85 billion U.S. dollars) during this period, pocketing about 424 million yuan each day, edging down from 450 million yuan in H1 2018.
China Mobile, the largest market player in terms of subscribed users, saw both its revenue and net profit fall in H1, while its two counterparts registered year-on-year growth on the two indicators. The three firms all have plans to further roll out 5G-related services as the country greenlighted 5G commercial use in June. China has the world’s largest population of mobile internet users, and about 430 million people may enjoy 5G services by 2025, accounting for about one third of the world’s total 5G users, an industrial report showed.

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