China Mobile: Internet-of-things sales to hit $15b

China Mobile Communications Corp, the world's largest telecom carrier by subscribers, aims to grow its internet-of-things revenue to 100 billion yuan ($15 billion) by 2020, as technological advances make it possible to put home appliances, vehicles, shoes and other items online, a company executive said.

Li Yue, CEO of China Mobile, said on Wednesday that IoT will be one of its most important growth drivers as the State-owned company is transforming from a wireless operator to a digital service provider.

With about 1.3 million 4G base stations across the country, China Mobile operates the world's largest 4G network. As of May, the company has more than 400 million 4G subscribers, more than that of smaller rivals China United Telecommunications Corp Ltd and Telecommunications Corporation combined. But, the company is searching for new revenue sources, after internet-based messaging services have eaten into the company's once-lucrative voice calls and text business.