China Mo­bile’s profit drops in first half of the year

China Daily (Canada) - - NEWSCAPSULE -

The net profit of China Mo­bile, the world’s largest mo­bile op­er­a­tor by sub­scribers, fell 8.5 per­cent year on year to 57.74 bil­lion yuan ($9.4 bil­lion) in the first half of 2014, the com­pany said.

Op­er­at­ing rev­enue in the first half rose 7.1 per­cent from a year ear­lier to 324.7 bil­lion yuan. Of that, rev­enue from tele­com ser­vices gained 4.7 per­cent to 297.9 bil­lion yuan, the Bei­jing-based com­pany said in a fi­nan­cial state­ment.

Hong Kong-listed China Mo­bile at­trib­uted the fall in profit to in­creas­ing in­vest­ment in tele­com equip­ment amid the ex­plo­sive growth in data traf­fic, in par­tic­u­lar the ex­pan­sion of 4G busi­ness.

As of June 30, China Mo­bile had more than 790 mil­lion cus­tomers, an in­crease of 23.41 mil­lion from the end of 2013. Its 4G cus­tomers reached 13.94 mil­lion by the end of June. (Photo 1)

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