Chinese telecom operator China Mobile announced its annual results for 2013 in Hong Kong, and those financial numbers did not impress.
During the entire year of 2013, China Mobile's operating revenue was CNY630.2 billion, a year-on-year increase of 8.3%; but its net profit was CNY121.7 billion, a year-on-year decrease of 5.9%.
This is reportedly the first time for China Mobile to see an annual net profit decline.
China Mobile stated in its chairman's report that 2013 was a key year for the company's transitional development. On one hand, the issuance of 4G license brings new opportunities; on the other hand, its operating pressure continues to increase as it faces the competition from over-the-top services and market saturation
The competition from OTT Internet services was a major reason for China Mobile's net profit decline. F...
This news article comes via ChinaTechNews.com , who is the copyright owner of this information and news. FintekAsia.com has licensed the rights to this article and any republication or re-distribution in whole or in part of this content is strictly prohibited without the express consent of ChinaTechNews.com
