Paul Tracy

It’s the largest cell phone provider in the world...

It has more customers than AT&T (NYSE: T), Verizon (NYSE: VZ) and Sprint (NYSE: S) combined. In fact, with 650 million subscribers, this company has twice as many customers as the United States has people.

But I doubt you've ever heard of it...

The company I'm talking about is China Mobile (NYSE: CHL), China's largest cell-phone provider.

Now before you dismiss this as another risky emerging-market growth stock... let's see the facts.

China mobile is the world's largest wireless telecommunications company with more than 650 million subscribers. The company controls about two-thirds of the total Chinese mobile phone market and about 45% of the nation's third-generation (3G) mobile data market.

In other words, this is a dominant company. With a $200 billion market cap and $84 billion in annual revenue, China Mobile is just as big as the leading U.S. cell-phone service provider, AT&T.

But unlike AT&T, China Mobile has a lot more room for growth.

In the United States, more than 100% of the population owns a mobile phone. Even other markets including Brazil, Russia, Turkey and South Africa have mobile penetration rates of more than 100%.

In China, that number sits at just 67%...

As Chinese households continue to grow their incomes, China Mobile should maintain its top- line growth as more first-time mobile customers buy handsets.