| Rank |
Company |
Main markets |
Technology |
Total subscriptions (in millions) |
Ownership (100% ownership unless stated otherwise)
|
| 1
|
Template:Flagicon China Mobile Communications Corporation
|
Template:Flagu (China Mobile) Template:Flagu (CMHK) Template:Flagu (Zong)
|
Template:Collapsible list
|
1003.9<ref name="China Mobile">Template:Cite web</ref> (September 2024)
|
Government of the People's Republic of China (74.25%) Public stock (25.75%)
|
| 2
|
Template:Flagicon Bharti Airtel Limited
|
Template:Collapsible list
|
Template:Collapsible list
|
600<ref>Template:Cite web</ref> (September 2025)
|
Bharti Enterprises (66.57%) Singtel (32.15%) Google (1.28%)
|
| 3
|
Template:Flagicon Reliance Jio Infocomm Limited
|
Template:Flagu
|
Template:Collapsible list
|
506<ref>Template:Cite web</ref> (September 2025)
|
Jio Platforms
|
| 4
|
Template:Flagicon China Telecom Corp., Ltd
|
Template:Flagu Template:Flagu
|
Template:Collapsible list
|
423.4<ref>Template:Cite web</ref> (September 2024)
|
China Telecommunications Corporation (State Owned) (70.89%)
|
| 5
|
Template:Flagicon China Unicom Limited
|
Template:Flagu
|
Template:Collapsible list
|
345.0<ref name="China Unicom">Template:Cite web</ref> (September 2024)
|
China Unicom Limited (40.92%) China Netcom Group (29.49%) Telefónica (0.6%)
|
| 6
|
Template:Flagicon Vodafone Group plc
|
Template:Collapsible list
|
Template:Collapsible list
|
310.0<ref name="Vodafone">Template:Cite web</ref> (May 2024)
|
|
| 7
|
Template:Flagicon América Móvil, S.A.B. de C.V
|
Template:Collapsible list
|
Template:Collapsible list
|
315.8<ref name="América Móvil">Template:Cite web</ref> (September 2024)
|
Helu Slim (36.50%) Carlos Slim (6.84%) Public stock (56.66%)
|
| 8
|
Template:Flagicon Orange S.A.
|
Template:Collapsible list
|
Template:Collapsible list
|
305.3<ref>Template:Cite web</ref> (December 2024)
|
Public stock (77%) Government of France (23%)
|
| 9
|
Template:Flagicon Telefónica S.A.
|
Template:Collapsible list
|
Template:Collapsible list
|
270.5<ref>Template:Cite web</ref> (May 2025)
|
|
| 10
|
Template:Flagicon MTN Group Limited
|
Template:Collapsible list
|
Template:Collapsible list
|
288.0<ref>Template:Cite web</ref> (September 2024)
|
Public stock (60.02%) Government Employees Pension Fund (25.33%) M1 (10.05%)
|
| 11
|
Template:Flagicon Deutsche Telekom AG
|
Template:Collapsible list
|
Template:Collapsible list
|
258.8<ref>Template:Cite web</ref> (September 2024)
|
Free float (68.1%) Federal Republic of Germany (31.9%)
|
| 12
|
Template:Flagicon Vodafone Idea Ltd
|
Template:Flagu
|
Template:Collapsible list
|
203.86<ref>Template:Cite web</ref> (July 2025)
|
Government of India (49.8%) Vodafone Group Plc (23.2%) Aditya Birla Group (9.85%)
|
| 13
|
Template:Flagicon Axiata Group Berhad
|
Template:Collapsible list
|
Template:Collapsible list
|
162.5<ref name="Axiata">Template:Cite web</ref> (December 2023)
|
Public stock (54.91%) Government of Malaysia (45.09%)
|
| 14
|
Template:Flagicon PT Telekomunikasi Selular (Telkomsel)
|
Template:Flagicon Indonesia Template:Flagicon East Timor
|
Template:Collapsible list
|
159.3<ref>Template:Cite web</ref> (December 2023)
|
Telkom Indonesia (65%) Singtel (35%)
|
| 15
|
Template:Flagicon Emirates Telecommunication Group Company PJSC (Etisalat)
|
Template:Collapsible list
|
Template:Collapsible list
|
159<ref>Template:Cite web</ref> (2021)
|
Emirates Investment Authority (60.03%) Public stock (39.97%)
|
| 16
|
Template:Flagicon VEON Ltd.
|
Template:Collapsible list
|
Template:Collapsible list
|
153.9<ref>Template:Cite web</ref> (December 2024)
|
Letterone Investment Holdings S.A. (45.5%) The Stichting Administratiekantoor Mobile Telecommunications Investor (7.9%) Lingotto Investment Management LLP (7.8%) Shah Capital Management Inc. (6.7%)<ref>Template:Cite web</ref>
|
| 17
|
Template:Flagicon Ooredoo QSC
|
Template:Collapsible list
|
Template:Collapsible list
|
149.4<ref>Template:Cite web</ref> (Q3 2024)
|
Government of Qatar
|
| 18
|
Template:Flagicon Verizon Communications
|
Template:Flagicon United States Template:Flagicon United States Virgin Islands Template:Flagicon Puerto Rico
|
Template:Collapsible list
|
146<ref>Template:Cite web</ref> (December 2024)
|
Verizon Communications
|
| 19
|
Template:Flagicon AT&T Inc.
|
Template:Flagicon United States (AT&T Mobility LLC) Template:Flagicon Mexico (AT&T Mexico)
|
Template:Collapsible list
|
139.0<ref>Template:Cite web</ref> (September 2024)
|
Institutional Shares (59.28%) Vanguard Group Inc (14.12%) Blackrock Inc (11.49%)<ref>Template:Cite web</ref>
|
| 20
|
Template:Flagicon Telenor ASA
|
Template:Collapsible list
|
Template:Collapsible list
|
138.31<ref>Template:Cite web</ref> (Q3 2024)
|
Government of Norway (53.97%) Public stock (41.74%) The Government Pension Fund of Norway (4.79%)
|
| 21
|
Template:Flagicon Viettel Group
|
Template:Collapsible list
|
Template:Collapsible list
|
110.0<ref>Template:Cite web</ref> (Q1 2022)
|
Government of Vietnam
|
| 22
|
Template:Flagicon BSNL Mobile
|
Template:Flagu
|
Template:Collapsible list
|
91.74<ref>Template:Cite web</ref>
|
Government of India
|
| 23
|
Template:Flagicon NTT Docomo Inc.
|
Template:Flagicon Japan
|
Template:Collapsible list
|
91.4<ref>Template:Cite web</ref> (Q3 2025)
|
Nippon Telegraph and Telephone
|
| 24
|
Template:Flagicon Mobile TeleSystems (MTS)
|
Template:Flagicon Russia Template:Flagicon Belarus
|
Template:Collapsible list
|
87.60<ref>Template:Cite web</ref> (Q3 2024)
|
Sistema (50.8%)
|
| 25
|
Template:Flagicon MegaFon
|
Template:Flagicon Russia Template:Flagicon Tajikistan
|
Template:Collapsible list
|
77.26<ref>Template:Cite web</ref> (Q2 2024)
|
AF Telecom Holding LLC (56.32%) USM Telecom LLC (43.68%)
|