China Unicom Profit Beats Estimates on Cheap Smartphones
This article is for subscribers only.
China Unicom Hong Kong Ltd., the nation’s second-largest mobile-phone company, posted fourth-quarter profit that beat analyst estimates as it boosted users through low-priced smartphones and reduced subsidies.
Net income rose to 1.64 billion yuan ($264 million), from 14 million yuan a year earlier, based on figures derived from 12-month earnings the Beijing-based company reported yesterday. Profit surpassed the 1.41 billion-yuan average of eight analyst estimates compiled by Bloomberg.