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China Mobile's first year of loss

Mar 20 2014, 1:35pm CDT | by , in News | Misc

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China Mobile's first year of loss
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The carrier, after selling only 1 million iPhones, aims to improve sales for this year

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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