China Mobile, the world’s largest mobile network operator by subscribers, has achieved a remarkable milestone, exceeding 1 billion subscribers by the end of July. This growth is noteworthy as the operator added 559,000 new mobile subscribers in July alone, with a total of 9.8 million new subscribers in the first seven months of this year.
Remarkably, China Mobile has also seen substantial growth in its 5G segment. The company reported a net addition of 13.7 million 5G customers in July, bringing the total to 527.9 million. Furthermore, the operator has expanded its network infrastructure by adding 351,000 5G base stations in the first half of the year, totaling 2.3 million.
On the financial front, China Mobile reported operating revenues of CNY546.7 billion ($76.3 billion) for the first half of the year, a 3% year-on-year increase. Net profit also rose by 5.3% to CNY80.2 billion. Revenue from telecommunications services specifically saw a 2.5% increase to CNY463.6 billion.
In an ambitious move, China Mobile has announced plans to launch 5G-Advanced (5G-A) technology in over 300 cities across China this year. Gao Tongqing, the company’s vice president, emphasized the significance of this development, citing enhanced information infrastructure and the potential of 5G technology. China Mobile aims to drive widespread adoption of 5G-A technology through partnerships with manufacturers and chip suppliers. Notable cities, including Beijing, Shanghai, and Guangzhou, will be among the first to benefit from this new technology.
China’s commitment to 5G technology is clear, with expectations to reach a 5G adoption rate of 90% by 2030. According to GSMA’s Mobile Economy China 2024 report, China will surpass 1 billion 5G connections by the end of this year and reach 1.6 billion by 2030, significantly contributing $260 billion to the nation’s GDP.
This surge in 5G adoption is a double-edged sword. On the one hand, it showcases China’s rapid technological advancements and economic growth potential. On the other, it raises concerns regarding the pace of infrastructure development and potential market saturation. However, China Mobile’s proactive strategy to expand its 5G network and infrastructure appears to be a promising move toward sustaining growth and innovation.
