China Wireless, the Hong Kong-listed unit of the Chinese mobile phone maker Yulong Coolpad, has published its semi-annual financial report for the first half of 2010, stating that the company achieved operating revenue of HKD2.102 billion, a year-on-year increase of 193.8%; and it achieved net profit of HKD272 million, a year-on-year increase of 740.4%.
China Wireless said that the great revenue increase was mainly contributed by the significant increase of number of 3G mobile phone users in China in the first half of 2010.
According to the report, by June 30, 2010, China Wireless' revenue from 3G smartphone products was HKD1.799 billion, an increase of 626.1% compared with the HKD247 million in the same period of 2009. During the first six month this year, 1.42 million 3G Coolpad smartphones were sold.
At the same time, the company's revenue from 2G Coolpad smartphones decreased from HKD459 million in the first half of 2009 to HKD285 million. Though it sold 560,000 2G smartphones, an increase of 80,000 compared with the same period in 2009, the ratio of its 2G mobile phone business had decreased from 64.2% in the first half of 2009 to 13.6%.
During the reporting period, the company's sales of mobile phones have accounted for 85.6% of its total revenue. Apart from mobile phone devices, China Wireless' sales of mobile phone accessories reached HKD16.8 million, a year-on-year increase of 93.1%.