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China Mobile's 1.5% profit rise in 1st half disappoints

AFP
August 17, 2012, 12:28 am TWN

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HONG KONG -- Telecom giant China Mobile posted a worse-than-forecast rise in first-half net profit of 1.5 percent on Thursday, citing intensive competition and the spread of new mobile technologies.

Net profit rose to 62.2 billion yuan (US$9.77 billion) in the six months to June 30 compared to 61.28 billion yuan in the same period last year, the world's largest mobile carrier by number of accounts said.

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