1. A hand-held radiotelephone connected via a radio channel to a base station, comprising: a microphone for producing a speech signal corresponding to a user's utterance; first level varying means, connected to said microphone, for varying the level of the speech signal from the microphone to produce a level-varied speech signal; modulating and transmitting means, connected to said first level varying means, for modulating a carrier signal according to the level-varied speech signal and transmitting the modulated carrier signal via said radio channel to said base station; receiving and demodulating means for receiving a carrier signal from said base station via said radio channel and demodulating the received carrier signal into a received speech signal; second level varying means, connected to said receiving and demodulating means, for varying the level of the received speech signal to produce a level-varied received speech signal; a speaker connected to said second level varying means, for producing a voice signal corresponding to the level-varied received speech signal; speech-mode setting means for setting a speech mode to either handset speech mode or a hand-free speech mode; and control means for controlling variable level of said first level varying means and said second level varying means according to the speech mode set by said speech-mode setting means.