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China Mobile Adds $5.4 Billion in Market Cap. on Announcement of iPhone Alternative

China Mobile (CHL) is today’s top Chinese stock mover, adding more than $5.4 billion in market capitalization.

China Mobile Ltd. [[CHL]], China’s largest cellphone company which can brag it has more subscribers than the U.S. has citizens, is up more than 7% over the last five days. Today the company added more than $5.49 billion in market capitalization thanks to its 4 billion outstanding shares.

It was announced today the China Mobile is partnering with China Telecom [[CHA]] to battle the Apple [[AAPL]] iPhone. The iPhone is going to be exclusively offered by China Mobile’s smaller competitor China Unicom [[CHU]], in a coup for the company. China Mobile and China Telecom plan on offering the “OPhone,” which Lenovo Group is helping to develop based on Google’s [[GOOG]] Android operating system for cellphones. The OPhone will even have its own version of the iPhone’s “App Store” named MobileMarket.

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