China Mobile suffers first profit fall since 1999

|About: China Mobile Limited (CHL)|By:, SA News Editor

China Mobile's (CHL) net profit fell for the first time in 14 years in 2013, dropping 5.9% to 121.7B yuan ($19.6B) as the company increased infrastructure spending and handset subsidies. Free mobile-messaging services also hurt income.

Revenue climbed 8.3% to 630.18B yuan.

As of February 28, China Mobile had 775.6M customers.

China Mobile intends to increase capital expenditure 22% to 225.2B yuan ($36.34B) in 2014 as the operator looks to bolster its high-speed 4G network. (PR)