I don't believe mobi is high on the list at Kobo to support. I did see that they include mobi on the specs list but I have noticed they have removed it from other places.
The actual carton it is sold in does NOT list Mobi and, in fact, promises ePub and PDF only. But, quite correctly HarryT points out Kobo continues to state on its website that Mobi is supported.
I tried a couple of calibre Mobi's way back when the Touch was launched and the result was not charming. Kobo's online tech spec actually states: "Note: If you have eBooks in other formats you can sometimes use free applications like Calibre to convert them to EPUB or PDF." which is probably the best advice. Several features -- like dictionary lookup -- only work with Kobo native kepub and imported epub anyway.
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