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China Unicom targets RMB 70-bln 3G revenue for 2012

May. 11, 2012 (China Knowledge) - China Unicom (Hong Kong) Ltd<600050><0762><CHU>, the country's second-largest mobile operator by subscriber, expects to reap RMB 70 billion or around US$11.1 billion in revenue from its third-generation mobile services this year, more than RMB 40 billion it realized last year.

Vice President Shao Guanglu said the company will likely to have 90 million 3G users by the end of this year, adding that China Unicom has intention to cooperate with internet companies to further expand the Chinese telecommunication market.

As of Mar. 31, the company had 48.86 million 3G users, net addition of which stood at 8.84 million. Total 3G subscriber volume in China was nearly 152 million, of which 22.87 million users were added in March, said a person familiar with the matter.

In the first quarter of this year, China Unicom reaped RMB 1.01 billion in net profit, reflecting a year-on-year jump of nearly six folds, and its operating revenue for the period surged 24.8% from a year earlier to RMB 61.19 billion, sources reported.

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