China Mobile Q1 profit up 4% to $3.6b
month to the next, in response to a government request for lower mobile phone tariffs.
Following the Q1 results release, the carrier’s shares slipped 0.36 percent to close at HK$83.85 ($10.78) in Hong Kong on Friday.
China Mobile said it is also ramping up resources to develop 5G networks, as part of its efforts to establish an edge in the next-generation communication technology. It plans to put 5G into trial operation in 2018, before commercializing the technology in 2020.
China Mobile Chairman Shang Bing said earlier that his group was aiming to have at least 10 billion internet-enabled connections by 2020, accounting for one-fifth of global connections.
“We will step up efforts to expand our presence in the connected car sector, as part of our efforts to double the number of connections we had in 2015,” he said.
An employee from China Mobile Ltd explains 5G technology at an exhibition hall in Beijing.