China Mobile stocks tumble
China Mobile (NYSE:CHL) the world’s largest wireless carrier saw a huge decline on Monday as shares tumbled more than 5.5 percent after the firm posted a loss of in net additional subscribers of 4.5 percent in November, taking the new subscribers to the lowest point this year.
This decline in China Mobile sent Hong Kong stocks falling 3.3 percent, highlighting the fact that the economic downturn is continuing in China.
Meanwhile, it’s rumored that China Mobile has plans in early 2009 a large-scale purchase of TD-HSDPA/EDGE dual mode data cards.
It was leaked that Datang Telecom (SHA:600198) has began to sell its TD-HSDPA/EDGE Internet access card through Huawei the Shanghai Subsidiary of China Mobile.