China's three major telecommunications companies - China Telecom, China Unicom and China Mobile - and China Tower are all betting big on 5G and gearing up for their infrastructure construction, with a total estimated budget amounting to nearly 200 billion yuan in 2020, China Securities Journal reported Wednesday.
According to their annual results, China Mobile plans to invest 100 billion on 5G construction this year, rising four times from a year earlier. The estimated spending on 5G of China Unicom and China Telecom also saw significant increase than last year, with 35 billion and 45.3 billion yuan in investment, respectively. China Tower said earlier that 17 billion yuan of the company's budget in 2020 will go to 5G investment.
China Mobile achieved 1.2 percent revenue growth to 745.9 billion yuan, while China Unicom and China Telecom both reported slight declines in revenue, 290.51 billion and 375.73 billion yuan, respectively.
In term of net profit, China Unicom saw a huge increase of 22.1 percent year-on-year with 4.98 billion yuan, however, the other two operators generated less income than the previous year. China Mobile recorded net profit of 106.6 billion yuan, down 9.5 percent, while China Telecom saw net profit of 20.52 billion yuan, dropping 3.3 percent compared to a year earlier.