China Mobile posts 1.6% drop in Q2’09 profits

www.WirelessFederation.com/news: China Mobile, world’s largest mobile operator by subscribers, has reported a drop of 1.6% in Q2’09 profits driven by slow economy, weak 3G rollout and rising competition. The operator is in competition with smaller rivals China Unicom and China Telecom which offer full range of services since last year’s restructuring process. These operators are aggressively entering the rural market as the urban market faces saturation.
China Mobile’s Q2’09 net profit stood at 30.1 billion yuan ($4.4 billion) as compared to 30.6 billion yuan in Q2’08.