| China Mobile Q4 net profit growth slows to 11% |
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| Friday,March 20,2009 Posted: 09:56 BJT(0156 GMT) |
| From:za Article type:Original |
Customers look at mobile phones on display at an China Mobile outlet in Hong Kong, March 19, 2009. [Agencies]
China Mobile missed forecasts with an 11 percent rise in quarterly earnings as subscription and usage growth slowed faster than expected, and warned the industry will suffer this year due to the economic turmoil.
"The influence of the financial crisis that swept across the globe in 2008 will likely widen and deepen, and its impact on China's economy will continue. The telecommunications industry will be affected," chairman Wang Jianzhou said in a statement.
Earnings growth slowed from the year-on-year profit jump in the third quarter, but the world's largest mobile carrier by subscribers is seen remaining ahead of its rivals in the coming years given its strong cash flow, broad subscriber base, and the support measures in place for its homegrown 3G service TD-SCDMA. |
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