\tChina Unicom forecast it would record a double-digit increase in net profit in 2019 despite an expected decline in mobile revenue, in updated earnings guidance issued today (24 January).<\/p>\n
In a statement, the operator said it benefitted from \u201ceffective cost control\u201d during the year, resulting in expectation of a 10.8 per cent year-on-year rise in profit to CNY11.3 billion ($1.6 billion).<\/p>\n
Mobile revenue was expected to fall, but by less than the 6.1 per cent decrease [1] recorded in the first nine months of 2019.<\/p>\n
The operator attributed the drop to a government push for operators to boost mobile internet speeds while reducing tariffs. It also cited \u201cmarket saturation, keen market competition and a diminishing 4G data bonus\u201d as factors.<\/p>\n
Overall service revenue in 2019 was expected to be steady or rebound slightly, after declining marginally (0.7 per cent) in the opening nine months.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/china-unicom-profit-climbs-despite-mobile-weakness\/<\/p>\n","protected":false},"excerpt":{"rendered":"
China Unicom forecast it would record a double-digit increase in net profit in 2019 despite …<\/p>\n
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