A funeral service took place in the St Nicholas cathedral in Fribourg in the presence of Swiss communications minister Doris Leuthard, representing the government, chairman of the Swisscom board of directors Hansueli Loosliand other top managers.
The Tages-Anzeiger newspaper reported that around 500 people attended the service at the Catholic cathedral, which was completely filled.
Swisscom staff were able to follow proceedings on the intranet, the newspaper Blick said.
The Tages-Anzeiger reported that Loosli had made a short address in which he praised the German CEO's visionary abilities.
Schloter's elder sister had paid a moving tribute, saying he had "never been alone, even if that was how it seemed to him".
"I know you never wanted to hurt us; protecting your family was always the most important thing to you."
The day of mourning began at 9am when all staff of the country’s biggest telecoms provider – in Switzerland and abroad – held a minute’s silence.
Swisscom shops did not open their doors until after 9am.
Loosli was later due to meet 100 top Swisscom managers to discuss strategy following the 49-year-old CEO’s sudden death, Blick reported.
It was important to send a signal that “Swisscom still has a strong management,” spokesman Josef Huber told the paper.
Schloter joined Swisscom in 2000 as head of its mobile phone unit, and took over the helm of the company six years later.
Before Swisscom, he held various positions at Mercedes-Benz France and debitel.
Schloter's death was greeted with shock and consternation in Swiss business and political circles.
The German was credited with promoting the modernization of telecommunications infrastructure in Switzerland.