China Mobile's Net Slips 5.9%

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China Mobile's Net Slips 5.9%

by Wochit 0:41 mins

China Mobile's Net Slips 5.9%

by Wochit 0:41 mins

China Mobile Ltd.'s net profit last year fell 5.9%, its first decline in annual earnings in more than a decade, as the carrier boosted network investments and handset subsidies to battle stiff competition. The world's largest mobile carrier by subscribers, has been vying with rival carriers China Telecom Corp. and China Unicom (Hong Kong) Ltd. to boost revenue per user by adding customers to its 3G—third-generation—mobile services. Such services offer higher data speeds at a higher price than 2G services.

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