Operator's 3Q09 financials stagnant as $58 billion networks spend take sits toll
China Mobile has posted a 3Q09 net profit below analyst expectations and is facing a tough 12 months as it looks to build out its much-anticipated 3G network.
The company earned $4.2 billion in the quarter, which just missed Reuters analyst forecasts of $4.18 billion.
The analysts reckon profits will remain flat for the next two years as the company invests huge sums into its TD-SCDMA-based 3G services.
China Mobile's foray into 3G has been troubled to date - in March the company asked for help from major handset manufacturers to solve various technical issues, and last month attempted to kick-start the offering with the promise of cheap handsets.
Advertisement
