Telecom Equipment News
- Mobile-phone maker returns to profit
Date: 29-Mar-2007 Sources: (Shenzhen Daily)
NINGBO Bird Co., China's second-biggest mobile-phone maker, posted a profit for 2006, compared with a year-earlier loss, after the company cut expenses.
Net income was 30.6 million yuan (US$4 million), or 0.04 yuan per share, compared with a net loss of 471.2 million yuan, or 0.62 yuan, a year earlier, the company said in a statement to the Shanghai Stock Exchange yesterday, citing domestic accounting standards.
Sales fell 26 percent to 6.73 billion yuan from 9.04 billion yuan. The company, based in the coastal city of Ningbo, said it omitted a cash dividend.
China, the world's biggest mobile market, added 67.7 million mobile phone users last year, increasing total subscribers to 461.1 million. That rose to 467.4 million at the end of January, according to the Ministry of Information Industry.
France's Safran SA, formed when French telecommunications-equipment maker Sagem SA bought aircraft-engine maker Snecma SA in May 2005, has been working with Ningbo Bird since 1999. In 2002, the firms formed a 50-50 venture to make mobile phones. They agreed in 2005 to jointly purchase parts.
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