China Netcom Group Corporation (Hong Kong) Ltd. posted net income of 12.1 billion yuan in 2007, down 6.7 percent year on year.
The net income, higher than market expectations, was dragged down by a decrease in fixed-line users, the operator said in a statement released on Tuesday.
In view of the continuous increase in mobile services, China Netcom has implemented a strategy of becoming a broadband communications and multimedia service provider.
The development of innovative businesses, such as broadband and information and communication technology (ICT), was crucial in offsetting the decline of traditional fixed-line voice services and had contributed to an increase in revenue, said the statement.
In 2007, innovative business revenue grew by 38.9 percent to 28.7 billion yuan, accounting for 34.7 percent of total revenue, up 9.5 percentage points compared with the same period last year.
Last year, its broadband users reached 19.8 million, an annual increase of 37 percent, China Netcom said. (One U.S. dollar equals7.04 yuan)
Source: Xinhua
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