China Telecom profits fall on handset costs
China Telecom reported first-quarter revenues up 15.7 percent from a year earlier to CNY 67.93 billion. Excluding mobile device sales, revenues were up 12.0 percent to CNY 62.3 billion. The operator's EBITDA, before fees for CDMA network leasing, came in at CNY 24.03 billion, up just 0.9 percent, due to higher costs for the strong increase in device sales, including the iPhone 4S. Device revenues were up 80.7 percent from a year earlier, and the operator also reported higher CDMA network costs due to the gr
