\tChina Mobile booked a decline in profit and broadly flat revenue for Q1, as rising costs in its highly competitive home market took their toll on its bottom-line.<\/p>\n
The company reported an 8 per cent year-on-year decline in Q1 net profit to CNY23.7 billion ($3.5 billion) on revenue of CNY185 billion.<\/p>\n
During the quarter, it added 6.32 million customers bringing its total mobile base to 931 million, 723 million of which were on 4G plans.<\/p>\n
The company attributed the decreased profit to rising costs on \u201cinflexible items\u201d and a small dip in year-on-year mobile revenue due partly to cancellation of domestic data roaming charges in July 2018.<\/p>\n
In a statement, China Mobile said it would \u201ccontinue to step-up measures to reduce costs and enhance efficiency with a special focus on deploying resources with precision and high effectiveness, striking a balance between the group\u2019s short-term performance and long-term development\u201d.<\/p>\n
The company added it operated in a \u201chighly competitive mobile market\u201d and had taken measures to stabilise its position by \u201cproactively implementing reforms in data traffic operations, promoting large data products and boosting overall customer perception\u201d.<\/p>\n
During the quarter China Mobile continued efforts to sell bundled fixed and mobile services to customers.<\/p>\n
At its annual results event [1] in March, newly appointed China Mobile chairman Yang Jie [2] said the company would strive to achieve stable and favourable growth during 2019.<\/p>\n
The operator and its two domestic rivals each booked year-on-year increases [3] in net profit during 2018.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/asia\/asia-news\/falling-arpu-weighs-on-china-mobile\/
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/china-telecom-chairman-takes-helm-at-china-mobile\/
\n[3] https:\/\/www.mobileworldlive.com\/asia\/asia-analysis\/china-operator-profits-march-on-despite-tariff-cuts\/<\/p>\n","protected":false},"excerpt":{"rendered":"
China Mobile booked a decline in profit and broadly flat revenue for Q1, as rising …<\/p>\n
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