China Mobile, the world's biggest mobile operator by subscribers, on Thursday said its 2012 net profit slowed to 2.7 percent, blaming intensified competition in the country.
The figures come after reports the firm held talks with Apple chief executive Tim Cook in January in Beijing, raising hopes it will soon begin offering the iPhone.
Net profit for the 2012 fiscal year rose to 129.38 billion yuan (RM64.76 billion) compared to 125.98 billion yuan (RM63.06 billion) in 2011, the company said in a filing to the Hong Kong stock exchange. Revenue was up 6.1 percent at 560.41 billion yuan (RM280.52 billion).
The growth rate was slower than the 5.2 percent expansion it recorded in 2011, as more industry players compete for a piece of the pie in China, the world's largest smartphone market.
"Competition among communication operators is becoming increasingly fierce due to the increasing saturation in the communications market," the firm said.
China Mobile said its subscribers rose 9.3 percent to 710 million, including 87.93 million 3G customers, thanks to the country's "steady economic growth and the rapid development of the information and communications technology sector."
The firm said revenue for last year was mostly driven by its data business.
AFP
Thu Mar 14 2013
Motorcycling - Marquez wins Australian MotoGP after intense battle with Martin
The 31-year-old, third in the championship standings, has now won the Australian MotoGP four times in the premier class.
Prabowo takes up Indonesian presidency, vows to tackle corruption, other issues
Indonesia's Prabowo Subianto on Sunday took over as president of the world's third-largest democracy, vowing to combat internal issues
Nepal's Sherpas deserve more, says teenager who scaled world's 14 tallest peaks
Sherpas are known for climbing skills that make them the backbone of mountain expeditions.
Inside the underground lab in China tasked with solving a physics mystery
China will soon collect neutrino data, aiming to unravel one of particle physics' biggest mysteries.
Millions in Cuba still without power as major outage persists
Millions of Cubans remain without electricity because of a prolonged outage at the main power plants on the island, Anadolu Agency reported.
Surge in Gaza violence increases famine risk, monitor says
About 1.84 million people across the besieged Palestinian enclave are living through high levels of acute food insecurity.
Israel pounds Beirut and Gaza after rockets hit Israel's north
A drone was launched at Prime Minister Benjamin Netanyahu's holiday home.
Elon Musk promises to award $1 mil each day to a signer of his petition
He awarded a $1 million check to an attendee of his event in Pennsylvania aimed at rallying supporters behind Donald Trump.
Former special forces commander Prabowo to take up Indonesian presidency
Indonesia's Prabowo Subianto will take over as president of the world's third-largest democracy after sweeping the country's election with policies like free meals for school children
Father of Malaysian Islamic banking, Abdul Halim Ismail passes away
His dedication and pioneering spirit played an important role in shaping the journey of Bank Islam as well as leaving a lasting impact on the development of Malaysia's Islamic finance industry.
Zayn Malik postpones US tour dates after One Direction bandmate Liam Payne's death
Payne, 31, died on Wednesday after falling from a third-floor hotel room balcony in Buenos Aires, shocking fans of the boy band.
Why voters in a handful of swing states will decide the US presidential election
The contest will almost certainly be decided by just tens of thousands of voters a tiny fraction of the populace in a handful of states.
INSIGHT - Sudan's war risks 'lost generation' of children
A devastating crisis is unfolding in Sudan, where the most vulnerable members of society children are bearing the brunt of the violence.
Who is Prabowo Subianto, incoming president of Indonesia?
A wealthy ex-general with ties to Indonesia's popular outgoing president and its dictatorial past, looks set to be its next leader.
Trump says he would impose tariffs on China if China went into Taiwan
Republican presidential candidate Donald Trump said he would impose additional tariffs on China if China were to "go into Taiwan,"
Iran's supreme leader says Hamas leader's death will not halt 'Axis of Resistance'
The "Axis of Resistance", built up with years of Iranian support, includes Hamas, the Lebanese Hezbollah group, the Houthi movement in Yemen, and various Shi'ite groups in Iraq and Syria.
Putin says Russia willing to seek compromises between Iran and Israel
Russia is ready to help seek compromises between arch-foes Israel and Iran, President Vladimir Putin said on Friday, saying these would be difficult but possible.
What proposals will Russia push at the BRICS summit?
The proposal is also to establish a BRICS reinsurance company to allow uninterrupted shipment of goods and key commodities between members.
Indonesia's free meals plan in the spotlight as Prabowo readies for office
Prabowo calls the programme one of the main drivers of economic growth, eventually set to add an estimated 2.5 million jobs.
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.