Many large mobile operators are looking to internet services to maintain their growth levels as traditional voice and data access revenues come under intense pressure. China Mobile has set up a new subsidiary, called China Mobile Internet Company (CMIC) to help diversify its business after a year which saw its profits tumble and rising competition from newly-approved MVNOs. Despite huge ongoing investment in LTE, the world’s largest MNO by subscribers has struggled to turn that into improved financial results. Now it will create new internet products for consumers and enterprises, though it will face some of the challenges experienced by its peers, which have attempted similar moves in other countries. While China Mobile, like many major Asian operators, has higher…