China Mobile’s (CHL.NYSE, 941.HKG) net income fell 12% to US$4.1 billion (RMB24.9 billion) for the fifth consecutive quarter, Bloomberg reported, citing figures derived from nine-month results released by the company Monday. Rising costs to roll out the carrier’s fourth-generation network, which added 11.4 million users in September, are causing analysts to estimate net income will drop about 10% this year, which would be the biggest fall since 1999. Chief Executive Officer Li Yue is cutting US$2billion in smartphone subsidies after the government ordered carriers in July to reduce such spending to boost profit.
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