Competition Nips at China Mobile Results
Leading wireless carrier China Mobile Ltd. saw its growth stagnate in last year’s fourth quarter, as increasing competition and saturation for its newest 4G services combined to temper expansion of both its profit and revenue.
The company, which controls about two-thirds of China’s wireless market, reported its profit rose 7.5% to 22.2 billion yuan ($3.5 billion) in the fourth quarter, slightly faster than the 6.9% growth in the previous quarter, based on calculations made using its full-year data released on Thursday. Revenue for the latest three months rose 3.2% to 171 billion yuan, marking a slowdown from the previous quarter’s 4.8% growth.
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