China Mobile users breach 500 million

Third-quarter net income rose 2.6 percent to 28.6 billion yuan ($4.2 billion) from 27.9 billion yuan a year earlier, according to figures derived from nine-month earnings reported by the Beijing-based company Tuesday.

China Mobile cut call fees and raised handset subsidies to attract 15.24 million users in the quarter as Chairman Wang Jianzhou expands in lower-income rural areas to fend off mounting competition from China Telecom Corp. and China Unicom (Hong Kong) Ltd.

China Mobile?s third-quarter sales rose 9 percent to 114.1 billion yuan, according to derived figures. Earnings before interest, tax, depreciation and amortization, a measure of cash flow, increased 5 percent to 57.8 billion yuan.

China Mobile?s spending this year will be focused on upgrading networks to enable them to offer integrated second- and third-generation services, the company said in March. The carrier will offer third-generation services in 238 cities by the end of the year, it said.

Source : Konaxis

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