  China Telecom Corp., China’s largest fixed-line phone operator posted a net profit of 6.25 billion yuan ($893 million) for the first quarter of 2008.
The company said that profit in this quarter is not too high from the previous year’s net profit of 6.22 billion yuan due to decline in the number of subscribers.
The company blamed intense market competition for the negative growth in its subscribers for the first quarter.
China Telecom reported a net loss of 3.16 million customers. |