China Mobile Ltd, the country’s largest mobile network has announced its profit attributable to shareholders fell 10.2 percent to 109.3 billion yuan -17.7 billion dollars. The drop comes after the network poured money into its 4G business.
The profit was slightly higher than was predicted while revenues were 1.8 percent higher than last year.
China Mobile said it signed up 39.43 million subscribers last year to take its total to over 800 million.
China Mobile which received its 4G licence a year before its rivals saw its advantage disappear when China Telecom and China Unicom also got the green light to begin a full 4G service.