China Mobile launched its online software and application store yesterday, the first such store to be run by a telecom carrier and a major move by the world's biggest mobile phone operator to create new revenue streams as competition intensifies.

The long-anticipated Mobile Market store, or www.mmarket.com, is a platform where developers can create games and other mobile phone applications and existing China Mobile subscribers can download such applications and services, the company said.

The store, modeled after Apple's similar online retailer, is targeting China Mobile's nearly 500 million users and is its latest thrust into the rapidly growing mobile application and services segment.