Fixed phones droop in China, while mobiles galore

Posted on November 20, 2007  /  1 Comments

China Mobile Ltd., the world’s biggest wireless-phone carrier by number of users, added record subscribers in October as China Telecom Corp., the nation’s largest fixed- line carrier, lost customers for the third straight month.

About 6.6 million people signed up for China Mobile’s services last month, compared with its previous high of 6.1 million in September, the Beijing-based company said. China Telecom’s total phone subscribers fell by 880,000, it said in a statement today.

China will accelerate the process of granting licenses for providing third-generation mobile-phone services to fixed-line operators to help them compete in the nation’s telecommunications market, the official Xinhua News Agency reported Nov. 19, citing Xi Guohua, a vice minister at the Beijing-based Ministry of Information Industry.

Read the full story in ‘Bloomberg’

1 Comment

  1. The news that follows is diferent.

    China Mobile led the early falls in Hong Kong stock market as it tumbled nearly 5 pct as it tracked losses in its American depositary receipts overnight.

    Investors have ignored news that the mainland mobile telecom giant added 6.6 mln net new subscribers in October.

    (Is this one of the first signs of the global recession everyone has been predicting?)