China Telecom has reported a 17.4% spike in 2013 profit to 17.54 billion yuan ($2.83 billion), on the back of strong mobile gains.
Revenue grew 13.6% to 283.18 billion yuan, with mobile revenues up 28.3% to 117.83 billion yuan.
The company added 25 million mobile subscribers during the year, to take its mobile customer base to 186 million. China Telecom's 3G customer base increased by around 34 million - making up for declines in 2G - and the total 3G base crested 100 million.
Wireline revenue increased by a more modest 3.1% to 170.4 billion yuan, with wired broadband revenue up 6% to 70.8 billion yuan.
Fixed broadband subscribers increased by 10 million to 100 million. FTTH accounted for 27 million of these connections – a subscriber growth increase of over 70%.
The company's annual report addresses future plans for its LTE rollout, including the goal of rolling out a hybrid TDD/FDD LTE network once FDD LTE licenses are available. It states that China Telecom will pursue this rollout “with regard to government policy.”
Looking ahead, China Telecom said it expects its 4G rollout, the nation's economic reforms and the implementation of the Broadband China strategy to offer new growth opportunities.
But intensifying competition and regulatory changes such as amendments to fixed broadband competition policies will also present new challenges.