China Telecom Chairman and CEO Wang Xiaochu said the fall in the company's voice call revenues last year demonstrated the need for the introduction of third-generation mobile phone services, the Financial Times reported. "The decline is a positive signal for bringing forward 3G licensing because the regulating authorities can see the situation [we are in]," Wang said at the release of China Telecom's annual results. Voice revenues fell nearly 2% to US$15.6 billion – the first time the company has seen a decline in this area – as net profit sank 2.7% to US$3.5 billion. It is believed that China Telecom has applied for a 3G license as it bids to move into the wireless market but Wang said he had "yet to receive any concrete information or notice" from the regulators about telecom reform.
Categories