China Telecom Leads Chinese Wireless Growth In May

CHL: China Mobile logo
China Mobile

The Chinese wireless industry had a relatively strong May, with the three major carriers adding a total of about 10 million subscribers, marking an increase of roughly 2.5 million over the year-ago period. China Telecom (NYSE:CHA) fared the best of the three carriers, adding a net of 5.3 million mobile subscribers, driven by its improved coverage and its promotion of larger data traffic products, which are increasingly popular with subscribers. China Mobile (NYSE:CHL), the largest carrier, continued to underperform, adding just about 2.3 million subscribers over the month, likely due to more intense competition from the smaller two players and increasing saturation in the wireless market. Things were mixed on the 4G front, with the three players adding or migrating a cumulative 10 million subscribers to their 4G services over the month. This is down from levels of ~20 million in the year-ago period.

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