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China Unicom Expects 2010 Profit to Drop Over 50%

China Unicom IR, 1/28/11

China Unicom (NYSE: CHU; 0762.HK; 600050.SH) has announced that based on preliminary estimates, profit attributable to equity holders of the company for the year ended December 31, 2010 will decrease by over 50%. Unicom attributes the drop to the fast increase of depreciation and amortization, network, operations and support expenses, and selling expenses, particularly the 3G handset subsidy, in relation to the initial operation stage of Unicom's 3G business.

Keywords: fiscal report China Unicom subsidy profit telecom 3G 0762.HK 600050.SH CHU handset

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