Apple’s iPhone has done wonders for carriers all over the world. With AT&T heavily relying on the iPhone to do well, to the profits gains T-Mobile reported in nearly 4 years, thanks to the iPhone. Now, there are also those carriers who have dropped the iPhone because they think the iPhone does not carry the attraction it use to. But China Telecom has something else to say.
According to a new report by Bloomberg, China Telecom, for the second straight quarter has posted profits. The company is seeing very similar results that T-Mobile has seen ever since it started offering the iPhone. China Telecom inked a deal with Apple last February, and results of the deal are already showing.
Here is what Bloomberg had to say:
“China Telecom Corp. (728), the country’s third-biggest mobile phone operator by users, posted its second-straight gain in quarterly profit as subscribers with Apple Inc. (AAPL)’s iPhone helped boost data usage.
Net income rose 21 percent to 5.52 billion yuan ($902 million) in the second quarter, from 4.55 billion yuan a year earlier, the Beijing-based company said in a statement today. That beat the 5.25 billion-yuan average of five analyst estimates compiled by Bloomberg.”
The iPhone has done wonders for China Telecom so far. Adding 9.26 million 3G users, bringing it to 87.3 million. That represents about half of the total wireless subscriber base of 174.5 million that it’s currently holding. China Telecom is the third largest carrier in China, and tenth largest in the world.
Do you think the iPhone still has some shine left?