with the growth in data usage. If the quality of our service decreases due to insufficient network capacity, our business, results of  operations and reputation could be materially and adversely affected. In addition, we may also be sanctioned by the regulatory  authorities and may be forced to devote more capital expenditures to resolve these problems. In accordance with the articles of association of Chunghwa Telecom Workers Union, besides the chief manager of each  department, all of our employees are members of our principal labor union, the Chunghwa Telecom Workers Union. Since our  incorporation in 1996, we have experienced disputes with our labor union on such issues as employee benefits and retirement benefits  in connection with our privatization as well as the right to protest. Despite having taken measures to improve relations, increase  cooperation and ensure mutual benefit with our labor union, such as increasing channels of communications by holding periodic labor  resource review meetings and guaranteeing a labor union seat on our board of directions, we cannot assure you that we will be able  to maintain a good relationship with our labor union. Any deterioration of our relationship with our labor union could result in work  stoppages, strikes or threats to take such an action, which could disrupt our business and operations, and materially and adversely  affect the quality of our services and harm our reputation.  We have made significant capital investments in our network infrastructure and information technology systems to provide  the services we offer. In 2011, we made capital expenditures for our domestic fixed communications of NT$16.6 billion (US$547.4  million), our mobile communications business of NT$4.3 billion (US$143.2 million), our internet business of NT$3.8 billion  (US$123.7 million), our international fixed communications business of NT$1.5 billion (US$50.5 million) and our other businesses  of NT$0.7 billion (US$23.1 million). In order to continue to develop our business and offer new and more sophisticated services,  we intend to continue to invest in these areas as well as new technologies. The launch of new and commercially viable products and  services is important to the success of our business. We expect to incur substantial capital expenditures to further develop our range  of services and products. Commercial acceptance by consumers of new and more sophisticated services we offer may not occur  at the rate or level expected, and we may not be able to successfully adapt these services to effectively and economically meet our  customers’ demand, thus impairing our expected return from our investments.  We cannot assure you that services enabled by new technologies we are implementing, such as HSPA/ HSPA+ mobile  technology, will be accepted by the public to the extent required to generate an acceptable rate of return. In addition, we could face  the risk of unforeseen complications in the deployment of these new services and technologies, and we cannot assure you that we  will not exceed our estimate of the necessary capital expenditure to offer such services. New services and technologies may not be  developed and/or deployed according to expected schedules or may not achieve commercial acceptance or be cost effective. The  failure of any of our services to achieve commercial acceptance could result in additional capital expenditures or a reduction in  profitability to the extent we are required under applicable accounting standards to recognize a charge for impairment of assets. Any  such charge could materially and adversely affect our financial condition and results of operations.  We may also from time to time make equity investments in companies, but we cannot assure you of their profitability. We  cannot assure you that losses related to our equity investments will not have a material adverse effect on our financial condition or  results of operations.  In 2011, we recognized an other-than-temporary impairment loss of NT$148 million (US$4.9 million) for financial assets  carried at cost due to adverse changes in market conditions and operating performance that was below expectations. We may be  required to record additional impairment charges in future periods, which may have a material adverse effect on our financial  condition and future results of operations.  10 P AR T I If we fail to maintain a good relationship with our labor union, work stoppages or labor unrest could occur and the quality of our  services as well as our reputation could suffer.  We may not realize the benefits we expect from our investments, and this may materially and adversely affect our business,  financial condition, results of operations and prospects. 