Apple Inc. (AAPL): China Mobile adds 1 million new iPhone users in Feb.
China Mobile has added one million new Apple Inc. (NASDAQ:AAPL) iPhone users in the month of February after it started to offer the smartphone in mid January, according to China Mobile CEO Li Yue. Unfortunately, China Mobile announced its first decline in annual earnings in over a decade. China Mobile has been increasing network investments and handset subsidies to fight competition. Apple and China Mobile are excited about their bet in bringing the iPhone to the world’s largest carrier based on the number of subscribers.
China Mobile launched faster 4G mobile services in late December and believes that 4G iPhones can attract a large number of new customers. China Mobile has 776 million subscribers.
“We added 1.34 million new 4G users in February and most of them are iPhone users. We are happy with the progress as we are still building our 4G network and the coverage is only available in some major cities,” stated China Mobile Chairman Xi Gouhua in an interview with The Wall Street Journal.
Apple and China Mobile are selling iPhones through outlets and official Apple stores in China and Hong Kong. Analysts are expecting China Mobile to boost Apple’s iPhone shipments this year by around 15-30 million.