Following global trend of telecommunication liberalization, Macau government finally opened the mobile telecommunication market in 2001. The primary objective of the study is to demonstrate the price of mobile telephony is much cheaper after the market was opened. It is clearly that government has a significant role in price monitoring; this should be empowered by administrative regulations and rules. An overview of Macau mobile telephony market and results of price reduction analyses are followed up by suggestions on overcoming unsatisfactory regulatory framework for fair competition and consumer interests protection.