China Mobile ended the first quarter with 488 million 5G subscribers
China Mobile, the world’s largest operator in terms of subscribers, recorded operating revenues of CNY263.7 billion ($36.4 billion) in the first quarter of the year, an increase of 5.2% year-on-year, the carrier said in its earnings statement.
The company’s net profit increased 5.5% year-on-year to CNY29.6 billion. Also, the telco reported that revenue from telecommunications services was CNY219.3 billion, up by 4.5% year-on-year.
The telco ended the first quarter of the year with a total of 488 million 5G subscribers. China Mobile had reported a net addition of 138 million 5G subscribers during 2023.
In the mobile segment, the telco reached a total of 996 million subscribers at the end of March 2024, after an addition of 5 million customers during the first quarter.
“The Group will continue to pursue stable progress while forging ahead with a steadfast focus on integrity and innovation. We will enhance core functions, improve core competitiveness, expedite the cultivation and growth of emerging sectors of strategic importance, develop new quality productive forces at an accelerated pace, and establish ourselves as a world-class information services and sci-tech innovation enterprise to a high standard. With these efforts, we will consistently create greater value for our shareholders and customers,” the telco said.
China Mobile plans to launch 5G-Advanced (5G-A) technology in over 300 cities across China this year, according to local press reports.
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The telco, which claims a leading role in the development of 5G-A standards, also plans to promote the release of over 20 5G-A compatible phones within the year.
To showcase its new 5G-A network, China Mobile has established 5G-A demonstration halls in various locations across China.
China Mobile’s vice president, Gao Tongqing, stated that this launch will further accelerate the development of new information infrastructure and unlock the full potential of 5G technology. The carrier also said it aims to achieve widespread adoption of 5G-A technology in China through partnerships with manufacturers and chip suppliers.
Beijing, Shanghai and Guangzhou are among the first cities where China Mobile will activate the new technology.
China had a total of 11.6 million mobile communication base stations as of the end of last year, of which 3.4 million were 5G base stations. 5G base stations currently account for nearly 29% of total mobile base stations in China. The ratio is 7.8 percentage points higher compared to the end of 2022.