News
Operator adds 63.4 million 4G, 35 million FTTH customers.
China Telecom’s full-year net profit fell 10.2%, but revenues grew, as the company notched up strong fibre and 4G customer additions.
"The company adopted a proactive marketing strategy and placed emphasis on two fundamental businesses, namely 4G and fibre," said China Telecom, in a statement on Tuesday.
The strategy appeared to pay off, as 4G net additions in 2016 reached 63.41 million, while fibre-to-the-home (FTTH) additions came in at 35 million. China Telecom ended the year with 121.87 million 4G customers, up from 58.46 million a year earlier, and 105.99 million FTTH customers, up from 70.99 million.
Its total mobile and wireline broadband customer bases stood at 215 million and 123.12 million respectively at the end of last year. By comparison, at the end of 2015, it had 197.9 million mobile, and 113.06 million broadband subscribers.
Operating revenues grew 6.4% year-on-year to 331.2 billion yuan (€44.52 billion), while EBITDA edged up 1.1% to CNY94.11 billion. However, net earnings fell 10.2% to CNY20.05 billion.
Looking ahead, China Telecom said 2017 "is a crucial year for the company to implement the strategy of comprehensive transformation and upgrades, as well as the construction of comprehensive competitive advantages."
