4G spending hits China Mobile

Nation's top telecom carrier's net profit declines 0.6% in 2015 due to impact of increased investment, competition

China Mobile Ltd, the world's top mobile telecom carrier by subscribers, said on Thursday its net profit declined 0.6 percent last year, as hefty investments in 4G networks and mounting competition dragged down profitability.

The company said in a filing that net profit for 2015 fell to 108.5 billion yuan ($16.7 billion), lower than the 112.8 billion yuan average of analysts' estimates compiled by Bloomberg.