A China Mobile 5G booth. (File photo: IC)
China Mobile announced that it aims to install 50,000 5G base stations in 50 cities across China by the end of this year. The company unveiled its plan for this 24 billion yuan investment during a briefing in Hong Kong on Thursday regarding its mid-term performance.
In the first half of this year, the company's operating income was 389.4 billion yuan, down 0.6 percent on last year. Revenue from its communications services was 351.4 billion yuan, down 1.3 percent, and shareholder profit decreased 14.6 percent. The company's free cash flow reached 41 billion yuan.
The company said that it places great importance on shareholder returns, and is aiming to maintain a stable annual dividend this year.
Alongside the 5G network rollout, China Mobile also plans to build what it calls a 5G+ ecosystem in cooperation with local government, industry, universities, and scientific research institutes. The goal of this cooperation is to make advances in vertical integration and innovation in in industries including smart agriculture, transportation, and medical treatment.