China launched first hour on Saturday its first-ever mobile telecom satellite.

Called the Tiantong-01 satellite, which is being regarded as a vital part of the nation's space information infrastructure, it was designed by the China Academy of Space Technology.

According to China Daily, the newly-launched satellite will have a ground service that will be operated by the China Telecom, which is expected to set-up a mobile network with ground facilities that will serve China, Africa, the Middle East, among others.

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Meanwhile, back in July, Total Telecom reported that the three major mobile telecom operators of China have inked a deal in a bid to lower the rate which they have been paying for leasing tower space being managed by China Tower.

Based on the released details, China Mobile, China Unicom and China Telecom have already detailed the new costs that they will already be paying following the issuance of stock exchange filings.

These filings, as explained in the report, basically gave an overview of the "hefty discounts" that the companies are going to enjoy.

Considering the lower rates, the three telecom giants are expected to generate huge savings. However, the amount of savings was no longer divulged.

Analysts, however, have already made their own calculations as to how much China Mobile, China Unicom and China Telecom are going to generate.

Accordingly, China Mobile, which is the country's biggest telecom player, will be making 2.4 billion yuan (€325 million) worth of savings this year.

Meanwhile, its rival mobile telecome players, China Unicom and China Telecom, will be enjoying a savings of CNY1.9 billion and CNY1.8 billion, respectively.

Tagschina, China Mobile Telecom