China Mobile 1H profit rises to $9.6 billion

Aug 18, 2011

(AP) -- China Mobile Ltd., the world's biggest phone company by subscribers, said Thursday its first-half profit rose 6.3 percent as sales were boosted by greater usage of mobile Internet devices.

The Beijing-based company said profit was 61.3 billion yuan ($9.6 billion) for the six months ended June 30. Revenue climbed 8.8 percent to 250.1 billion yuan ($39 billion).

added 32.8 million customers in the first half for a total of 610 million at the end of June.

The company has thrived as Chinese enthusiastically switched from fixed line telephones to mobile phones, though customer growth has slowed from previous double-digit rates as the market has become saturated.

Beijing restructured its telecoms industry into three groups in 2008, each with mobile and fixed-line assets, to revive competition and speed industry development.

Revenues from China Mobile's wireless data business surged 42.8 percent in January through June, contributing to an overall of 24.5 percent, the company said.

The company has promoted nontraditional services such as mobile Internet to drive revenues from businesses that include music downloads, online payment services and Internet shopping.

China Mobile also leads the market for so-called third-generation mobile services with 35.03 million 3G customers as of June 30.

The Chinese government awarded the company a license for the country's homegrown technology, known as TD-SCDMA, in 2009, while allowing its main competitors and to roll out other, international 3G based technologies.

Analysts say the homegrown TD-SCDMA technology has proven a liability in some respects due to slow speed and a lack of variety of handsets, since manufacturers have preferred to focus on products for global markets.

China Mobile said it plans to step up development of a new, fourth generation technology known as TD-LTE.

Explore further: Netflix's Comcast deal improves quality of video

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Report: China Mobile cool on 3G standard

Feb 01, 2006

China's adoption of a homegrown technical standard for third-generation (3G) wireless service might not be as done a deal as the industry had assumed.

China Mobile expresses interest in iPad

May 13, 2010

China Mobile, the world's biggest cell phone operator, said Thursday it was interested in selling the iPad, and that talks with Apple over the sale of iPhones were still ongoing.

China Telecom upbeat despite 3G worries

Mar 23, 2006

As wealthier Chinese in big cities snap up multi-functioning mobile phones and those living in remoter areas buy their first basic handsets, the country's biggest phone carrier would seemingly be on a roll. Yet even as China ...

Recommended for you

Tech giants look to skies to spread Internet

5 hours ago

The shortest path to the Internet for some remote corners of the world may be through the skies. That is the message from US tech giants seeking to spread the online gospel to hard-to-reach regions.

Wireless industry makes anti-theft commitment

6 hours ago

A trade group for wireless providers said Tuesday that the biggest mobile device manufacturers and carriers will soon put anti-theft tools on the gadgets to try to deter rampant smartphone theft.

Dish Network denies wrongdoing in $2M settlement

16 hours ago

The state attorney general's office says Dish Network Corp. will reimburse Washington state customers about $2 million for what it calls a deceptive surcharge, but the satellite TV provider denies any wrongdoing.

Netflix's Comcast deal improves quality of video

Apr 14, 2014

Netflix's videos are streaming through Comcast's Internet service at their highest speeds in the past 17 months now that Netflix is paying for a more direct connection to Comcast's network.

New research on gigabit wireless communications

Apr 10, 2014

Research on gigabit wireless communications has been presented by researchers from the University of Bristol at the world's leading wireless communications and networking conference, IEEE WCNC 2014, in Turkey ...

User comments : 0

More news stories

Floating nuclear plants could ride out tsunamis

When an earthquake and tsunami struck the Fukushima Daiichi nuclear plant complex in 2011, neither the quake nor the inundation caused the ensuing contamination. Rather, it was the aftereffects—specifically, ...

Unlocking secrets of new solar material

(Phys.org) —A new solar material that has the same crystal structure as a mineral first found in the Ural Mountains in 1839 is shooting up the efficiency charts faster than almost anything researchers have ...