China Mobile Ltd on Thursday reported a hike in its half yearly net profit beating the estimates forecast by analysts, thanks to the increasing use of Internet services.
According to the Wall Street Journal, China Mobile, leading Chinese mobile operator and also the world’s largest mobile network carrier has reported a 6.3 per cent increase in its net profits in the first half of 2011.
The company has managed to out-perform the estimates predicted by market analysts and researchers due to the increase in mobile phone-based data usage by customers, as the company continues to offer 3G services along with affordable and useful value added services in the country.
The company, which has a user base of 616 million people, reported net profits of 6.3 per cent to reach 61.3 billion yuan in the period, along with an 8.8 per cent hike in the revenue generated year-on-year to reach 250 billion yuan.
China Mobile has tough competition from rival companies China Telecom and China Unicom, which together boast a user base of nearly 290 million mobile phone owners.
The company also has a personal application store for smartphone users, and is currently undertaking trials for its 4G mobile network in the country.