“China Mobile Ltd., the world’s largest phone company, will spend more on subsidies next year as it tries to boost smartphone sales by as much as 42 percent and lure customers to its new high-speed service,” Bloomberg News reports.

“China Mobile plans to sell as many as 220 million smartphones next year, compared with 155 million this year, Chairman Xi Guohua said today in Guangzhou, according to remarks posted on the carrier’s official microblog account,” Bloomberg News reports. “The carrier has yet to reach agreement with Apple Inc. (AAPL) to offer the iPhone, the official China Daily newspaper reported today, citing Xi.”

“Handset subsidies will expand next year from the 27 billion yuan ($4.4 billion) spent this year, Xi said, as the carrier seeks to push more of its 759 million subscribers to higher-priced voice and data plans on the faster network,” Bloomberg News reports. “China Mobile hopes to have an agreement with Apple ‘soon,’ the China Daily quoted Xi as saying.”

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MacDailyNews Note: China Mobile hopes to have an agreement with Apple ‘soon,’ Xi said, according to China Daily.