China Unicom has reported a year-on-year 24% drop in first half net income, down from RMB2.8 billion (USD369 million) to RMB2.13 billion following an accounting loss resulting from a change in the fair value of its convertible bonds. Revenue grew 5% to RMB49.2 billion on the back of continued subscriber growth. As of 30 June, China Unicom had 151.6 million wireless subscribers, up from 142.4 million at the end of 2006.
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