China Unicom (CHU -2.6%) heads lower after reporting a 2011 profit that missed expectations, as...

|About: China Unicom (Hong Kong) Li... (CHU)|By:, SA News Editor

China Unicom (CHU -2.6%) heads lower after reporting a 2011 profit that missed expectations, as 3G and broadband subscriber growth fails to offset declining 2G subs and growing handset subsidy costs. Unicom, which plans to spend CNY100B ($15.9B) in 2012 capex, now also has to contend with a loss of Chinese iPhone exclusivity, as rival China Telecom (CHA) begins selling the 4S. (earlier)