China Telecom profit rises after it offers iPhone
State-owned China Telecom says profits grew in the first half of the year as revenue from iPhone sales kicked in.
China's third-biggest mobile operator by subscribers said Wednesday that profit rose 16 percent to 10.2 billion yuan ($1.7 billion) in the January-June period. Revenue rose 14 percent to 157.5 billion yuan.
The company became the second Chinese phone company to offer Apple's popular iPhone when it rolled out service in the first half of last year. Profit last year fell as it stepped up spending on marketing efforts to win over affluent customers after it rolled out service for the popular smartphone.
Officials warned the increased spending would hurt short-term profitability but help in the long term.
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