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Warning as telco set to sell iPhones

Wednesday, February 22, 2012

Shares of China Telecom (0728) gained more than 4 percent yesterday despite the firm warning profits may ease as it starts selling iPhone 4S in the mainland.

The telco starts online reservation for the CDMA-version of the iPhone 4S next Friday.

The launch is likely to pressure profits in the short term, chairman Wang Xiaochu said. But it would aid long-term growth, he added.

Analysts are worried big handset subsidies may impair profits.

Customers who sign a 24month contract for monthly fees of between 289 yuan (HK$356) and 489 yuan will be eligible for a free iPhone 4S - thereby receiving subsidies of 60 percent. NATALLIE CAI


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