
The telecommunications industry continues to grow and shift beyond recognition, as telcos are embracing the power of disruptive technologies to innovate.
From AI to transitioning further towards 5G networks, digital transformation has become necessary for these organisations to remain competitive and support their customers.
With this in mind, Mobile Magazine showcases some of the world’s leading telecommunications companies.
The companies on this list are ranked by market cap. The figures and listings are correct as of January 2025 and as per companiesmarketcap.com.
10. China Telecom
Market cap: US$82.11bn
Country: China
CEO: Ke Ruiwen
First established in 2012, China Telecom has become a global player with an extensive network of communications infrastructure. It is one of the publicly traded red chip companies of the state-owned China Telecommunications Corporation.
The company leverages its vast network resources of 52 submarine cables with more than 113.8T in intercontinental capacity, 254 Points-of-Presence PoPs and 27 data centres worldwide.
Currently, the organisation has a presence in 53 countries and markets, with business across the Asia-Pacific, Europe, the Middle East, Africa and the American regions.
9. SoftBank
Market cap: US$85.61bn
Country: Japan
CEO: Masayoshi Son
SoftBank Corp is SoftBank's telecommunications subsidiary, which provides both mobile and fixed-line services. Its fixed-line telecommunications services make SoftBank the third-largest wireless carrier in Japan, with 45.621 million subscribers as of 2021.
The company has internationally recognisable stockholdings in a range of technology giants, including leading telco Deutsche Telekom (see below).
In December 2024, it was announced that SoftBank Group plans to invest US$100bn in the US over the next four years to create 100,000 jobs focused on AI and related infrastructure.
8. American Tower
Market cap: US$88.74bn
Country: US
CEO: Steve Vondran
American Tower is an American real estate investment trust which owns, develops and operates wireless and broadcast communications infrastructure in several countries. It is headquartered in Boston, Massachusetts and was ranked 373rd on the Fortune 500 in 2023.
It is a leading telco in the US, eager to bolster its carrier-neutral data centre facilities across the country to strengthen its 5G offerings.
As of 2023, the company owns 224,502 communications sites, including 42,905 sites in the U.S. and Canada, 77,647 sites in Asia-Pacific, 31,241 sites in Europe, 24,229 in Africa and 48,480 sites in Latin America.
7. Bharti Airtel
Market cap: US$113.12bn
Country: India
CEO: Gopal Vittal (until 2026, will be succeeded by Shashwat Sharma)
Bharti Airtel is a leading telecommunication company based in India. The company prides itself as being one of the most trusted providers of IT services, with a global network across the US, Europe, Africa, Middle East and APAC.
According to the company, Airtel Telecommunications also ranks amongst the top three mobile service providers around the world, as per subscribers. It holds strategically located submarine cables and a satellite network that spans 50 countries across five continents that is designed to enhance the user experience.
6. Comcast
Market cap: US$139.63bn
Country: US
CEO: Brian L. Roberts
Comcast provides connectivity, content and experiences, with its offerings enjoyed by hundreds of millions of customers, viewers and guests worldwide. Bringing together innovative technology and extraordinary content, Comcast seeks to deliver world-class broadband, mobile and entertainment for its customers, alongside technology that powers the future.
The company is consistently ranked as one of the largest broadcasting and cable television companies worldwide by revenue and is well known for being the parent company of NBCUniversal, in addition to being the largest home internet provider and cable provider in the US.
5. Deutsche Telekom
Market cap: US$156.43bn
Country: Germany
CEO: Timotheus Höttges
Deutsche Telekom is one of the world's leading integrated telecommunications companies, with more than 252 million mobile customers, 25 million fixed-network lines and 22 million broadband lines.
The company provides fixed-network/broadband, mobile communications, Internet and IPTV products and services for consumers, and information and communication technology (ICT) solutions for business and corporate customers.
Present in more than 50 countries, Deutsche Telekom is now responsible for developing itself from a traditional telephone company to a software company that provides telecommunications services.
4. AT&T
Market cap: US$159.61bn
Country: US
CEO: John Stankey
AT&T is an American multinational telecommunications holding company. It is the world's third largest telecommunications company by revenue and the third largest wireless carrier in the US.
The company views 5G as the most transformative wireless technology yet, with significant potential to spark innovation across multiple industries. AT&T Mobility provides nationwide, high-speed 5G wireless voice and data services to consumer, business and wholesale subscribers across the US.
Likewise, AT&T Fiber is America’s fastest Internet with the most reliable speeds and passes more than 27.8 million total consumer and business locations.
3. Verizon
Market cap: US$162.91bn
Country: US
CEO: Hans Vestberg
As the second-largest telecommunications company in the US, Verizon’s mobile network is the largest wireless carrier in the US as of 2024. It offers a range of services for mobile phones, home telephones and Internet services.
Recently, the company has been advancing its fibre network to support AI workloads, having transported the data at fast speeds across a single wavelength on its live metro fibre network. The company hopes this will enable it to be the provider of choice when it comes to AI workloads, given its speed.
2. China Mobile
Market cap: US$212.74bn
Country: China
CEO: He Biao
China Mobile is the leading IT services provider in the mainland of the People’s Republic of China. The Group provides communications and information services across all of the country’s provinces and regions, boasting world-class telecommunications and information operations.
With one of the largest networks and customer bases, China Mobile has been able to maintain a leading position with regards to profit, brand value and market value. Its business primarily focuses on voice, data, broadband, cloud computing and the Internet of Things (IoT).
1. T-Mobile US
Market cap: US$253.6bn
Country: US
CEO: Mike Sievert
T-Mobile’s US division offers wireless telecom services and hosts a range of other services, including voice, text messaging, video calling and data communications. It also serves postpaid, prepaid and wholesale customers, providing its products and services under T-Mobile brand names.
Under the leadership of CEO Mike Sievert, T-Mobile has been at the forefront of the 5G revolution, providing customers with unparalleled network speeds and reliability. Their commitment to advancing technology ensures that businesses and individuals alike can stay connected, productive, and entertained
Headquartered in Washington, T-Mobile US’ largest shareholder is Deutsche Telekom, as referenced above, with a 51.4% stake in the company.
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