China Unicom saw a 14 percent bump in profits for 2011, with company execs attributing much of that gain to its exclusivity deal on the iPhone. Despite the increased income, China's second largest network still fell short of analyst estimates, with much of the blame being pinned on the carrier's need to increase capital spending. New customers means network expansion and more handset subsidies, and the firm's augmenting its spending by 30 percent to 100 billion Yuan (about $16 billion) to keep up. This extra expense caused stock in the network to cool a little, falling 3.1 percent after the announcement. Not so good news then, considering what's
around the corner.
China Unicom says partnering with Apple was a good thing, we feign surprise originally appeared on Engadget on Fri, 23 Mar 2012 09:41:00 EDT. Please see our terms for use of feeds.
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