China Mobile executive resigns in financial probe

China Mobile (CHL.NYSE, 0941.HKG), the country’s largest wireless carrier by subscribers, said Thursday that a vice president had resigned amid a government probe into “financial-related issues,” The Wall Street Journal reported. Lu Xiangdong is the third China Mobile executive to be suspended in recent years following government investigations: one was given a suspended death sentence in July after being found guilty of taking US$1.15 million in bribes, while another was convicted in August of accepting US$2.5 million in bribes. The news came as China Mobile reported a 5.2% increase in 2011 net profit to US$19.9 billion and an 8.8% increase in revenue to US$83.4 billion, exceeding analyst estimates. China Mobile Chairman Wang Jiangzhou said the company is still in talks with Apple (AAPL.NASDAQ) to integrate the iPhone with China Mobile’s 3G technology.