China Unicom, the country’s second-largest mobile operator by subscribers, saw its first-quarter net profit totaled US$523.13 million, Dow Jones reported. Revenue for the period came to US$5.56 billion, the company said in a statement on its first quarterly earnings figures since it merged with China Netcom to become a full-service fixed-line, broadband and mobile services provider. The company said it didn’t provide 2008 figures because its newly acquired businesses haven’t prepared financial information for the first quarter of last year. China Unicom also said it will consider issuing medium- to long-term debt to take advantage of low interest rates, given current global economic conditions. The company plans to increase in capital expenditure to US$16.19 billion this year from US$10.33 billion in 2008 as it rolls out third-generation wireless services.
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