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China Mobile's first year of loss

The carrier, after selling only 1 million iPhones, aims to improve sales for this year

Mar 20 2014, 1:35pm CDT | by

11 Updates
China Mobile's first year of loss
 
 

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China Mobile's first year of loss

Though China Mobile is among the world's largest carriers, it has reported financials which show a loss which is the company's first loss period in 14 years. But this is primarily because the company is making huger investments in the 4G network domain. Approximately 1.34 LTE-enabled smartphones have been sold through this carrier and most of them were iPhones and a similar order was made for Apple which was recently fulfilled by the company.

According to what the analysts have predicted, China Mobile is going to sell at least 15-17 million iPhones in 2014 but if the rate continues to be the way it is, then it is very unlikely that these predictions will ever come true. Also to improve the financial performance, the company plans to sell 100 million LTE-enabled phones and boast 50 million LTE users by year's end. China Mobile Chairman Xi Guohua is reported to have said that "Most of our 1.34 million 4G users are using an iPhone. It's just been getting started for one or two months. So far it's hard to tell how that will affect our business."

source: wsj

 

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Update: 11

Asia Markets: Hong Kong stocks end flat after China data

Source: MarketWatch

Hong Kong stocks end flat, with property stocks suffering after downbeat Chinese housing data, while China Mobile extends a fo ...
Source: MarketWatch   Full article at: MarketWatch 1 day ago, 4:49am CDT
 


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Update: 10

Why it’s about to get tougher for Apple to grow iPhone sales in China

Source: GigaOM

A Chinese state agency told the country's three main carriers they're spending too much on phone subsidies. Now the largest of these, China Mobile, is reducing its budget for subsidies by $2 billion, which could steer customers to lower-priced handsets. Why it’s about to get tougher for Apple to grow iPhone sales in China originally published by Gigaom, © copyright 2014. Continue reading…. ...
Source: GigaOM   Full article at: GigaOM 4 days ago, 3:58pm CDT
 

More From the Web

Update: 9

There's Some Bad News Brewing For Apple And Samsung In China (AAPL)

Source: The Business Insider

China Mobile, the largest wireless carrier in the world with more than 700 million subscribers, announced this week that it will reduce the subsidies it pays to help consumers buy smartphones at cheaper costs. The stock is went up about 5% on the news, Bloomberg reports. Like U.S. carriers, China Mobile pays subsidies to smartphone makers to make devices cheaper for consumers up front. In the U.S., t ...
Source: The Business Insider   Full article at: The Business Insider 4 days ago, 12:39pm CDT
 

Update: 7

Apple Now Using China Telecom as Data Center Provider in China

Source: Mac Rumors

Apple has officially added China Telecom as a data center provider in China, reports The Wall Street Journal. The move comes after 15 months of "stringent tests and evaluation" by the Fuzhou city government, as Apple states that all data stored on the servers is encrypted. According to Reuters, Apple says the new data center will help improve the speed and reliability of iCloud and the iTunes Store in the region. "Apple takes user se ...
Source: Mac Rumors  Full article at: Mac Rumors 4 days ago, 6:07am CDT
 

Update: 6

Asia Markets: China Mobile leads Hong Kong to highest close in years

Source: MarketWatch

Hong Kong stocks rise, leaving the Hang Seng Index at its highest level in more than three years, with China Mobile leading the way ...
Source: MarketWatch   Full article at: MarketWatch 4 days ago, 4:44am CDT
 

Update: 5

The next big smartphone maker might actually be Lenovo

Source: Ars Technica

Lenovo's smartphones are primarily sold overseas, but it's making moves that could significantly expand its presence. Lenovo Lenovo posted its first-quarter financial results last night (PDF), and overall the news was good. Revenue was up 11 percent compared to the same quarter last year, and profit after operating expenses was up to $283 million from $202 million. These aren't ...
Source: Ars Technica   Full article at: Ars Technica 5 days ago, 2:48pm CDT
 

Update: 4

China Mobile's Profit Declines On Higher Costs Even As 4G Subscriber Base Soars

Source: Forbes Real Time

While growing subsidy costs put a dent in China Mobile’s profits, it helped the carrier grow its 3G/4G subscriber base by over 10% sequentially in Q2 2014 to over 253 million. Considering that data traffic is quickly becoming the primary avenue for future revenue growth, the carrier vigorously expanded and promoted its high speed 4G network, gaining 11 million 4G subscribers i ...
Source: Forbes Real Time   Full article at: Forbes Real Time 5 days ago, 1:02pm CDT
 

Update: 3

World stock markets mostly lower after Germany’s economy contracts, France’s stagnates

Source: Canadian Business Online

HONG KONG – A contraction in Germany’s economy and stagnation in France dented European stocks Thursday while Asian markets ended mixed. KEEPING SCORE: France’s CAC 40 lost 0.6 per cent to 4,168.93 and Germany’s DAX shed 0.4 per cent to 9,158.33. Britain’s FTSE 100 edged up 0.1 per cent to 6,664.27. U.S. shares were set to drift lower, with Dow futures slipping 0.1 per cent to 16,610. S&P 500 futures dipped 0.1 per cent to 1,943.50. ASIA’S DAY: ...
Source: Canadian Business Online   Full article at: Canadian Business Online 5 days ago, 3:52am CDT
 

Update: 2

China Mobile Profit Drops

Source: WSJ.com: What's News US

China Mobile posted a 8.5% decline in its first-half net profit as unfavorable regulatory policies and hefty investment in network upgrades hurt its p ...
Source: WSJ.com: What's News US  Full article at: WSJ.com: What's News US 6 days ago, 12:21am CDT
 

Update: 1

Google, Asian telecoms to build $375 million undersea cable to Japan

Source: Asia One

Search engine Google Inc and five Asian telecom and communications companies have agreed to invest about US$300 million (S$375 million) to develop and operate a trans-Pacific cable network connecting the United States to Japan.To be named "FASTER," the cable network will have an initial capacity of 60 terabits per second and will connect Los Angeles, Portland, San Francisco, Oregon and Seattle to Chikura and Shima in Japan.NEC Corp, which will be ...
Source: Asia One   Full article at: Asia One Aug 11 2014, 10:09pm CDT
 

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<a href="/latest_stories/all/all/32" rel="author">Ahmed Humayun</a>
Ahmed Humayun is a technology journalist bringing you the hottest tech stories of the day.

 

 

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