Telco surges on iPhone report
By Zhu Shenshen |
July 14, 2011, Thursday
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Print Edition
Print Edition
SHARES of Hong Kong-listed China Telecom surged more than 5 percent yesterday, the biggest jump in the past five months, after a report said the telco would launch a CDMA 2000 iPhone on the Chinese mainland by the end of this year.
The launch of the iPhone that runs on the CDMA 2000 3G network is expected to help China Telecom, the country's No. 3 telco behind China Mobile and China Unicom, boost revenue by increasing the user base and boosting income from data services, industry insiders said.
A Reuters report said yesterday that China Telecom will launch the iPhone adopting the CDMA 2000 technology in November, citing two undisclosed sources.
China Telecom confirmed it was in talks with Apple to launch the CDMA 2000 iPhone currently "in the test" in Shanghai and Beijing, but declined to reveal a detailed timetable.
Shares of China Telecom surged 5.1 percent to close at HK$4.93 (63 US cents) in Hong Kong, compared with a 1.2 percent gain for the benchmark Hang Seng Index.
China Unicom is now the sole 3G operator of Apple's smartphone in the domestic market with the WCDMA technology.
China Mobile, the world's biggest mobile carrier, had about 5.6 million 2G iPhone users and it planned to launch iPhone with its own 4G technology.
The launch of the iPhone that runs on the CDMA 2000 3G network is expected to help China Telecom, the country's No. 3 telco behind China Mobile and China Unicom, boost revenue by increasing the user base and boosting income from data services, industry insiders said.
A Reuters report said yesterday that China Telecom will launch the iPhone adopting the CDMA 2000 technology in November, citing two undisclosed sources.
China Telecom confirmed it was in talks with Apple to launch the CDMA 2000 iPhone currently "in the test" in Shanghai and Beijing, but declined to reveal a detailed timetable.
Shares of China Telecom surged 5.1 percent to close at HK$4.93 (63 US cents) in Hong Kong, compared with a 1.2 percent gain for the benchmark Hang Seng Index.
China Unicom is now the sole 3G operator of Apple's smartphone in the domestic market with the WCDMA technology.
China Mobile, the world's biggest mobile carrier, had about 5.6 million 2G iPhone users and it planned to launch iPhone with its own 4G technology.
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