China Mobile first half profit falls 8.5 percent

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Associated Press

Posted on August 14, 2014 at 3:00 AM

Updated Thursday, Aug 14 at 6:01 AM

BEIJING (AP) — China Mobile Ltd., the world's biggest phone carrier by number of subscribers, says its first-half profit fell 8.5 percent as the company spent heavily to roll out fourth-generation service.

China Mobile, one of China's three major state-owned phone carriers, said Thursday it earned 57.7 billion yuan ($9.4 billion) in the six months ending June 30. Operating revenue rose 7.1 percent to 324.7 billion yuan ($54.1 billion).

The company has invested heavily to build what it says is the world's biggest 4G network, with 410,000 base stations in 300 cities.

Its total subscribers rose 6.8 percent over a year earlier to 790 million accounts, including 14 million 4G users.

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