China Telecom gains in mobile
The phone company said first-half 2011 profit rose 8% vs. last year to $1.5 bil. China Telecom’s (NYSE:CHA – News) sales rose 11.5% to $18.8 bil. Mobile phone revenue rose 28% despite competition from rivals China Mobile (NYSE:CHL – News) and China Unicom (NYSE:CHU – News), while fixed-line revenue fell. China Telecom was long the country’s dominant carrier, but fell behind as demand shifted …
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