Unicom posts lower profit, sales
China Daily | Updated: 2017-03-17 07:34
Performance comes amid fierce competition among domestic telcos
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 group said on Wednesday its net profit last year fell 94 percent to 630 million yuan ($91.15 million), matching an estimate it disclosed in January. Revenue fell 1 percent to 274.20 billion yuan.
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