China Mobile’s profits were up 4.2%, according to the company's interim 2010 results.

The firm credited its growth to a solid expansion among its customer base, which reached 554 million phone users and 31.76 million internet users.

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However, it was not immediately clear where the company will go to continue its growth and expansion. In a statement the company said: “The group’s development faces new challenges amid the already high mobile penetration rate and intensifying competition in China’s telecommunications market.”

Yet there was no indication that this meant the company would look abroad for more customers, as it is convinced there is enough of a market for the company domestically. Regardless, it appears the company is confident with its direction and said it would continue to pay a dividend of HK$1.417 ($0.182) per share.