February 27, 2014 / 9:11 AM / 4 years ago

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)

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