InfoAnda - China Unicom says 2008 profit up 58 percent

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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China Unicom says 2008 profit up 58 percent AP - Wednesday, April 1 BEIJING - China Unicom Ltd. said Tuesday its 2008 profit jumped 58 percent on a one-time gain from the sale of a wireless unit in an industry restructuring. ADVERTISEMENT Profit rose to 33.9 billion yuan ($4.9 billion) or 1.42 yuan per share for the year ending Dec. 31, compared with 21.4 billion yuan or 0.92 yuan per share for 2007, the Beijing-based company said. Unicom sold its CDMA mobile phone network to China Telecom Ltd. and merged with China Netcom Corp. in a government-orchestrated restructuring meant to spur competition. The overhaul created three phone companies, each with mobile and fixed-line assets. "The company's mobile business, fixed-line broadband and data communications businesses maintained sound growth, while the traditional fixed-line business continued to decline," Unicom chairman and CEO Chang Xiaobin said in a statement. Revenue fell about 1 percent to 148.9 billion yuan ($21.7 billion). ___ On the Net: China Unicom Ltd.: http://www.chinaunicom.com.hk Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy BeijingWest to buy Delphi suspension, brakes unitAP - 1 hour 1 minute ago SABIC CEO sees growth in chemicals sector by year end: CNBCReuters - 1 hour 13 minutes ago FAA sees 9 percent fewer air passengers this yearAP - 2 hours 2 minutes ago China quietly extends its currency's global reachAP - 2 hours 33 minutes ago Related Articles: Business Fox News launches Web site FoxNation.comAP - 1 hour 11 minutes ago Euro pares gains vs dollar on housing dataReuters - 1 hour 12 minutes ago SABIC CEO sees growth in chemicals sector by year end: CNBCReuters - 1 hour 13 minutes ago World Bank offers trade boost, OECD casts G20 shadowReuters - 1 hour 15 minutes ago India govt did not need all planned MSS funds-cbankReuters - 1 hour 15 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed 100,000 secular Britons seek 'de-baptism' Prince William up for Afghanistan fight: report World auto shake-up leaves investors reeling Hot tea linked with throat cancer Obama offers tough love to US car giants View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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