China Mobile reports third quarter net income recovery

21 Oct 2009

China Mobile, the world’s largest mobile operator by subscribers, has posted net income of RMB28.6 billion (USD4.6 billion), up 2.6% year-on-year and recovering from the previous quarter when the company recorded its first decline in net income since 1999. Analysts, however, say its profits will remain largely flat over the next two years before it realises any benefits from its 3G services. At the end of September China Mobile boasted 508.4 million subscribers after attracting more than 15 million during the quarter on the back of lower call fees and higher handset subsidies.

China, China Mobile