China Mobile profits go up

BEIJING, CHINA: Chinese telecommunications giant China Mobile said its net profits hit 125.9 billion yuan ($19.92 billion) in 2011, an increase of 5.2 per cent year-on-year.

Operating revenues grew 8.8 per cent year-on-year to 528 billion yuan during the period on surging wireless Internet businesses, the operator said in a statement filed to the Shanghai Stock Exchange.

The company said it planned to increase its capital expenditure by 2.6 per cent to 131.9 billion yuan in 2012, reported Xinhua.

In 2011, China Mobile added 65.55 million users, bringing the total number to 650 million.

As of the end of 2011, subscribers to the company's 3G services totalled 51 million, accounting for 40 per cent of the domestic market.