China Unicom says 2014 capital spending won't be more than 2013
HONG KONG Feb 27 (Reuters) - Capital spending by telecom firm China Unicom in 2014 will not exceed the 80 billion yuan ($13.1 billion) spent in 2013, Executive Director Lu Yimin said on Thursday.
Smartphone subsidies would also remain little changed this year, he added.
Lu was speaking after China's second-biggest mobile carrier by subscribers missed estimates by a large margin and posted nearly flat year-on-year profit growth in the fourth quarter.
Full year 2013 operating revenues rose 18.5 percent to 295.04 billion yuan versus 248.93 billion yuan in the previous year. ($1 = 6.1248 Chinese yuan) ($1 = 6.1248 Chinese yuan) (Reporting by Yimou Lee; Writing by Paul Carsten)