China Mobile is not burdened with fixed-line operations. Unicom and Telecom still have to maintain their landline systems. The fixed costs in those systems are big and, all else equal, revenue falling in that business will squeeze profits.
China Mobile has international business in Hongkong and Cmlink countries. At least, this management is making a serious investment.
At end of 2022
- ChnM had 970 M mobile customers
- ChnTelecom had 390 M mobile customers
- Unicom had 320 M mobile customers
- A distant #4 is ChinaBroadnet中国广电 (broadcasting), probably below 10M