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BUSINESS & TECH

Competition Nips at China Mobile Results

A man walks past the China Mobile logo at the Mobile World Congress in Barcelona, Spain, February 28, 2018. Photo: VCG
A man walks past the China Mobile logo at the Mobile World Congress in Barcelona, Spain, February 28, 2018. Photo: VCG

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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