According to a report in the Sunday Times, UK-based mobile telecom company Vodafone will sell its share in China Mobile for $6.2 million. Under pressure from shareholders, Vodafone is preparing a series of asset sales to raise cash and restructure its portfolio. The sale of the China Mobile stake would presumably raise more cash than [...]
China Unicom saw net profit fall 62% year-on-year in the first half of 2010. The country’s second largest mobile operator by subscribers said that the slump was due to the high marketing costs necessary to promote its 3G devices. It also faced increased competition from China Mobile, which reported a 4% net profit increase for [...]
Fu Yuning will succeed Qin Xiao as the new chairman of China Merchants Group. Fu, who acted as president of the group for 10 years, will be replaced by Li Jianhong, the former executive vice president of China Ocean Shipping (Cosco). Qin, who has acted as chairman of the group since late 2000, will retire. [...]
China Mobile said its net profit grew 7% year-on-year in the first quarter to $8.49 billion on the back of a 7.9% increase in revenue to $33.8 billion. The profit gain beat analyst expectations but was still small, a result of increasing competition in the mobile market and declines in average revenue per user. China [...]
Chinese outbound M&A deals reached record levels in the first half of 2010, rising more than 50% over the same period last year, according to a study carried out by PricewaterhouseCoopers. A total of 99 outbound deals were announced, 14 of them focused on natural resources. They included Sinopec’s $4.7 billion acquisition of a 9% [...]
Taiwan smartphone manufacturer HTC will begin selling phones in China under its own brand name. HTC has been in China’s smartphone market for some time, but sells its products under the brand name Dopod. The firm now believes that the HTC brand, which it claims is recognized by 8% of current Chinese smartphone users, is [...]
China Unicom has confirmed that it is in talks with Apple over bringing the company’s iPad tablet and iPhone 4 mobile phone to China. Unicom said that it hoped to sell the iPhone 4 in China featuring both the WiFi wireless internet standard and 3G internet access; Chinese government regulations forced Unicom to offer its [...]
China Telecom will begin selling Research in Motion’s Blackberry Storm in a bid against China Unicom’s exclusive Apple iPhone. Beginning Monday, China Telecom will offer the Storm to business users in 16 of China’s 31 provinces. Unicom began offering the iPhone in October of 2009, and Apple’s Chinese sales have reached almost $1.3 billion. However, [...]
China Mobile, the world’s biggest mobile operator by subscribers, said it is interested in selling Apple’s iPad tablet computer in China. The company is also in discussions with Apple about developing a next-generation iPhone that would run on TD-SCDMA – the home-grown 3G mobile standard being used by China Mobile – the company’s chairman Wang [...]
China Mobile said its first-quarter profit increased by 1.1% to $3.73 billion, much slower than the 5.2% profit growth a year earlier. Analysts attributed the slowdown in growth to increasing competition from China Unicom and China Telecom, as well as higher marketing and depreciation expenses incurred by its 3G service offering. Revenue per user decreased [...]
