There are more mobile phone subscribers at one Chinese operator than people in the entire U.S., according to figures China Mobile posted on its Web site late Friday.

The company finished last year with 301.2 million wireless subscribers, just topping the U.S. population, which stood at 300.9 million on New Year’s Day, according to an estimate by the U.S. Census Bureau.

Breaking the 300 million milestone at China’s largest wireless network operator highlights the trend toward mobile phone use in developing countries. A combination of increasing wealth and falling handset costs is putting mobile phones in the hands of millions of new users each month in countries such as China and India.

A basic GSM (Global System for Mobile communications) handset with a monochrome screen and basic features costs about $25 to build today, while $40 worth of material can produce a GPRS (General Packet Radio Service) handset, which allows users functions such as basic Internet browsing and sending photos to friends.