China Mobile quarterly profit falls on tougher competition

Quarterly profit at the world's largest phone company, China Mobile, has fallen due to tougher competition, the company has announced.

In a statement China Mobile said it "experienced experienced severe difficulties and challenges arising from increasingly complex competition in the information and communications industry, greater impact from Over The Top (OTT) products on the traditional communications industry and more intense horizontal competition due to the continued increase in mobile penetration".

The company said it expects new opportunities and further competitive pressure when Beijing begins to roll-out 4G services.

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