China Telecom revenues jump off the back of rising 3G subscribers using iPhones
According to the interim financial statement it released today, China Telecom’s revenues jumped by 28.3 percent in the first half of this year. The jump is partly due to rising 3G subscribers, majority of them use iPhones. iPhone users generally tend to use more mobile data.
China Telecom is the third largest state-owned wireless carrier in the country. Its statement reflects the highest mobile revenue growth rate in the industry during the first half of 2013. 18.3 million new 3G subscribers were added in the six month period ending in June 2013. This pushes the figure of customers who subscribe to revenue generating data plans up to 87.33 million or roughly half of China Telecom’s entire subscriber base. Revenue from mobile data has jumped by 39 percent to $4.3 billion.
The iPhone is certainly a sought after product in the Chinese market. China Telecom does officially sell the iPhone on its network, only recently it was reported that Apple CEO Tim Cook had met with the carrier to discuss plans for the upcoming iPhones. Apple is expected to release two new iPhones next month. If China Telecom is able to get both of them on its network, the outcome may very well be beneficial for both of these companies. The carrier also said that it is planning to develop its LTE network, this might be an indication that LTE capable iPhones may come to China in the near future.
Apple certainly has its sights set on the Chinese market. It is also reportedly in talks with China Mobile, the world’s biggest carrier, to sell the new iPhones through it. No deal has been reached as yet.