CHL announced that it earned $4.96 billion in net income in 2008, a 58% increase from 2007 primarily because of the one-time gain associated with the sale of its code division multiple access business in October.
ALU signed a $1B deal with China Mobile to provide communication equipment and services.
The Chinese government decided that it will merge smaller competitors to increase the competition for market giant, CHL. As a result, CHL lost $26B in market value in Hong Kong trading.
CHL ended discussions with Apple to carry the iPhone on its network.
Teaming up with RIMM's distibutor in China, Alcatel, China Mobile has placed an order for 10,000 Blackberry 8700 devices, establishing the Blackberry brand in the Chinese market for the first time.
Credit fears in the U.S. from the subprime lending fallout lead global investors to seek Chinese stocks sheltered from those effects. CHL's customer base is driven by Chinese middle class
China Mobile announced stellar half year results, as the company added more than 31 million customers in the first half of 2007. A growing installed base bodes well for the prospects of 3G technology, which will offer faster Internet access and provide the company with additional revenue streams.
CHL announced contracts worth 400M USD with Motorola to supply telecom equipment to meet demands from the company's rapidly expanding installed base
The company first purchased a majority stake in the Pakistan telecom company, Paktel, in late January 2007. CHL announced a full acquisition of all shares in mid-May.
Forbes reports China Mobile's investment of USD 700 million into its recent acquisition Paktel, with another 400 million yet to come. Emphasis is drawn to China Mobile's foray into foreign markets and its determined backing of the new acquisition.
Rumors spread that Vodafone may want to sell 3% of its stake in China Mobile. China Mobile executives deny receiving any communication from Vodafone about such a sale, but bring more bad news from the Chinese government: 3G licensing will be delayed again at least until the end of 2007.
