BEIJING (AP) — China Mobile Ltd., one of the country’s three major state-owned phone carriers, said Thursday its profit rose just 1.5 percent in the first half, dented by fierce competition and the costs of adapting to new technologies.

The Beijing-based phone company said it earned 62.2 billion yuan ($9.9 billion) in the first half. Revenue rose 6.6 percent to 266.5 billion yuan ($42.3 billion).