China Unicom takes profit hit for second year in a row
Public PolicyChina Unicom takes profit hit for second year in a rowChina Unicom takes profit hit for second year in a row
China Unicom’s heavy spending on handset subsidies has taken its toll on profits. Announcing its 2010 annual results yesterday, China’s second-largest operator reported an 11.3 per cent growth in revenue that was tempered by a net profit drop of almost 60 per cent to $586.5m. China Unicom reported losses of RMB 3.4bn on “handset subsidy costs.”