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China's Telecom Has Become the Least Profitable Industry

Updated:2018/10/12 17:47

According to the 2018 Hurun China Rich List released by the Hurun Research Institute, Jack Ma & family shot back to Number One in China with 270 billion yuan.

In the overall list, sixty percent made their wealth from the ‘Big Four’ industries of manufacturing, real estate, financial investments and IT while the performance of telecom industry was extremely poor as no one managed to squeeze into the top 100 and even Huawei, the best performing company in this industry, only made its founder Ren Zhengfei rank 198th with 17 billion yuan.

This is due to the shrinkage in overall benefits of China’s telecom industry. As a matter of fact, the rapid development of Internet, mobile Internet and OTT in recent years has brought the telecom industry headed by operators into a phase of slow or even declining profit growth. Especially since last year, large-scale  speed up and  have significantly increased competitive and profit pressure in the telecom industry.

The original:http://www.c114.com.cn/news/16/a1067637.html

 Source:C114
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