The company said in March that a government call for telecom operators to lower prices was likely to reduce its 2017 operating profits and revenues by around 7 billion yuan. Profit for the six months to June reached 62.7 billion yuan ($9.40 billion), up from 60.6 billion yuan a year ago.
Operating revenue rose 5 percent to 388.9 billion yuan, up from 370.4 billion yuan a year ago. "This year, we will commence field tests for 5G and steadily drive the business forward taking into account the maturity of the 5G standard and the related business model," the company said on Thursday in a statement.
China Mobile said subscribers of its 4G mobile network - the world's largest - rose to 594 million after the addition of 58.62 million customers. It said it was on track to achieve its target of a net increase of 100 million 4G users this year. The company announced an interim dividend of HK$1.623 per share and special dividend of HK$3.20 per share to celebrate the 20th anniversary of its Hong Kong listing. China Mobile is also making big investments into the so-called Internet of Things initiative, as the Chinese government pushes for the strategy that will see more devices and people become interconnected.
Copyright Reuters, 2017