China Mobile (CHL.NYSE, 0941.HK) plans to launch an internet search engine next year, potentially challenging Baidu (BIDU.NASDAQ), as the world’s largest phone carrier by customers looks to data services to boost growth, Bloomberg reported. Market saturation is slowing China Mobile’s growth, as more than 60% of the country’s population now owns a mobile phone compared with less than 10% at the beginning of the decade. Its parent, China Mobile Communications, struck a deal with Xinhua News Agency last month to partner in internet search. China Mobile also said it will continue cooperation with Vodafone (VOD.NASDAQ, VOD.LSE) on high-speed wireless services after the UK company ceased to be a shareholder last week. The companies also plan to jointly develop a new mobile device that supports long-term evolution technology. Vodafone raised US$6.5 billion from the sale of its 3.2% stake in China Mobile.
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