Revenue of China's top three telecoms companies fell in the first quarter of 2019
16:59 - 03/05/2019
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Three major telecommunications companies in China saw their revenues fall in the first quarter of 2019, despite an increase in subscribers.
Operating income of China Mobile, China Union and China Telecom fell 0.3%, 2.39% and 0.5% in the period from January to March 2019, according to its financial statements.
China Mobile reported a decline in net profit growth, while the other two companies increased their profits.
China Mobile, China's largest telecoms company by revenue, attributed the drop in profits to the rapid decline in data traffic charges and the cancellation of roaming fees.
The three companies controlling the market announced plans to test fifth-generation services in some cities to establish a foothold in the emerging market.
Official data showed that China's telecom services revenue continued to slow in the first quarter, with total revenue of 332.3 billion yuan ($ 49.35 billion), up 1 percent year-on-year.
While official data released by the Chinese Ministry of Industry and Information Technology showed that China's IT services revenue grew steadily in the first quarter of this year.
Information technology services revenue rose 16.7 percent year-on-year to 858.3 billion yuan ($ 127.56 billion) of the total software and IT services sector.