China Telecom is looking to the rollout of fast-speed 4G services in China for future growth, as the domestic telecoms market becomes saturated even in the world's most populous country.
China Telecom, one of the largest telecom groups in China, ended 2014 with 186m mobile subscribers, but reported a net increase of only 40,000 subscribers year-on-year. Sales and profit growth was also slim: net income rose 0.8 per cent year-on-year to Rmb17.7bn on revenues of Rmb324.4bn, up 0.9 per cent year-on-year and missing analysts' estimates.
Chairman and chief executive Wang Xiaochu said on Wednesday he expects intensifying market competition to gradually lead to an era of competition for existing customers:
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