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China's top 3 telecom operators see falling Q1 revenue growth

Xinhua
China's three major telecom operators saw their revenues drop in the first quarter of this year despite rises in service subscribers.
Xinhua

China's three major telecom operators saw their revenues drop in the first quarter of this year despite rises in service subscribers.

The operating revenue of China Mobile, China Union and China Telecom fell by 0.3 percent, 2.39 percent and 0.5 percent in Q1 year on year respectively, according to their financial statements.

China Mobile also reported decreasing net profit growth while the other two managed to increase their profits.

China Mobile, the biggest Chinese telecom operator in terms of revenue, attributed the dropping profit to the rapid decrease of the traffic fee as well as the scrapping of the roaming fee.

All three market players have announced plans to pilot 5G services in some cities to establish a foothold in the emerging market.

Official data showed that China's telecom services revenue continued to slow down in growth in Q1, with total revenue reaching 332.3 billion yuan (US$49.35 billion), up 1 percent year on year.

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