News Digest: September 20, 2011

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The following press releases and media reports about Chinese companies were carried on September 20. To view a full article or story, click on the link next to the headline.

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◙ China’s Sany Heavy to raise $3.33 billion in Hong Kong offer (English article)

◙ China Telecom (HKEx: 728; NYSE: CHA) Faces Antitrust Investigation – Source (English article)

◙ ConocoPhillips (NYSE: COP) To Establish Second Bohai Bay Fund (Businesswire)

◙ Buffett-Backed BYD (HKEx: 1211) Shenzhen: Plans Record Bonds Sales (English article)

◙ Online Wine Merchant WineNice.com Wins $80 Mln in First-Round Funding (Chinese article)

Huawei, Lenovo Look to Foreign Advisors in Westward Drive

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There’s a couple of interesting new hires out there from Chinese tech firms Huawei and Lenovo (HKEx: 992), which are both clearly aimed at boosting their global operations. Whether either will succeed is a different matter, though both look like good ideas to me at first glance. First Huawei, which has hired IBM (NYSE: IBM) as a brand strategy consultant for its push into tablet PCs, smartphones and cloud computing. (English article) Like its smaller rival ZTE (HKEx: 763; Shenzhen: 000063), Huawei wants to expand into theses 3 new areas as its growth slows in its core business of making telecoms networking equipment. IBM has a strong record as a brand builder, retaining its image as a premier tech name even after selling its flagship PC business in 2005. Huawei is now in a similar situation to IBM, wanting to transition from a brand known mostly to industry people to a more mainstream consumer name. I’m sure it’s paying IBM big bucks to help in this transition, and that money should be well spent if it can make good cellphones and tablet PCs, which still remains to be seen. As to Lenovo, the company has hired a new advisor in the form of Gianfranco Lanci, who many will remember as the man behind Acer’s (Taipei: 2353) recent rise to become the world’s second biggest PC seller. (Chinese article) Lanci, who correctly predicted the move to laptop computing from traditional desktops, abruptly left Acer earlier this year (previous post) as it became clear the company was running into trouble from relying too heavily on cheap computers and failing to lead in new categories like smartphones and tablet PCs. Still, I like Lanci for his previous foresight and savvy marketing, and think he could be a strong advisor for Lenovo in his home base of Europe. If this relationship works out well, I wouldn’t be surprised to see Lanci eventually join Lenovo in an executive position, perhaps even C-level.

Bottom line: The hiring of top western names by Huawei and Lenovo look like smart moves by both companies for their drives into Western markets.

Related postings 相关文章:

◙ Huawei, ZTE Ratchet Up Western PR Offensives 华为和中兴加紧西方公关战

◙ Acer Takes a Hit With Lanci Leaving 宏基痛失兰奇

◙ ZTE Gambles With Smartphone Share Grab 中兴通讯押注智能手机业务

CITIC Securities $2 Bln IPO Looks Good, With Potential to Jumpstart HK 中信证券香港IPO值得期待

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Despite a frosty environment for new initial public offerings, China’s largest brokerage CITIC Securities (Shanghai: 600030) has announced its  moving ahead with a planned IPO worth nearly $2 billion, in what looks like a good bet to breathe some new life into an otherwise moribund market. (English article) CITIC Securities, whose shares have been listed in Shanghai since 2003, is taking an interesting gamble with this offering, and the timing looks particularly curious since the Hong Kong market is down more than 10 percent since the last mega-offering when Prada (HKEx: 1913) listed its shares in June. I suspect the Chinese government has quietly pushed CITIC to go ahead with this deal, as a successful offering could potentially breathe new life not only into Hong Kong, but also into the sputtering Shanghai stock market, which has lost a comparable amount since June. In my view, CITIC Securities represents one of the strongest bets you’ll see for China’s the financial sector, which can always get investors excited due to the nation’s huge growth potential. It’s the premier name among Chinese brokerages which are generally commercially driven, unlike banks that take their cues from the government. What’s more, Chinese brokerages also work as investment banks, giving them nice exposure to a sizable Chinese IPO and bond underwriting market off-limits to foreigners. CITIC Securities now trades at a healthy 15 times this year’s earnings, which is about the industry average. All that said, barring a major sell-off in Hong Kong or Shanghai, I would expect to see this offering do nicely when it debuts in October, possibly giving a small kick to the sputtering Hong Kong and Chinese markets.

Bottom line: CITIC Securities will offer international investors a strong window into China’s brokerage sector, and is likely to see strong demand for its October IPO.

尽管当前新股发行环境严峻，中信证券仍宣布推进在香港规模近20亿美元的首次公开发行（IPO）计划，这或许能为死气沉沉的市场注入些许活力。中信证券2003年就已在A股挂牌，此次香港招股时机有点令人费解，毕竟港股大盘自6月Prada大宗IPO以来已跌逾10%。我推测，可能是中国政府暗中推动中信证券IPO，因为若其招股案成功，不仅能为港股注入新的生机，可能也有助於提振A股，A股6月以来也跌幅惨重。我认为，中信证券是押注中国金融业的一个机会，由於中国经济增长潜力巨大，其金融业也总是能让投资者感到兴奋。中信证券是中国券商中的佼佼者，有别于那些唯行政指引是瞻的银行，中信证券整体上是受商业因素驱动。此外，中国券商也扮演投资银行的角色，因此能受益於中国企业招股活动，以及债券承销业务。中信证券市盈率为15倍，处於健康水准，与行业平均水平相仿。因此除非港股或A股出现沉重跌势，否则中信证券10月在港股挂牌应有不俗表现，或许还能稍稍提振港股和A股。

一句话：中信证券IPO，是国际投资者投资中国券商行业的良机，其10月IPO可能吸引旺盛需求。

Related postings 相关文章:

◙ ICBC Discovers China’s Latest Low-Cost Export: Currency 工行将从非洲人民币结算业务中获益

◙ Record Profits Bolster Banks as Storm Looms 创纪录利润有助银行抵御楼市低迷隐忧

◙ China Merchants Bank Kicks Off “Capital Raising II” 招商银行掀起第二轮融资热潮

China Mobile: Where’s the 3G iPhone? 中移动4G网络稳步推进 3G版iPhone或遇阻

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A flurry of new reports about China Mobile’s (HKEx: 941; NYSE: CHL) highly anticipated 4G network came out toward the end of last week, with news of expanded trials and a near-certain tie-up with Apple (Nasdaq: APPL) for an iPhone that will run on the network’s homegrown Chinese technology. But perhaps more interesting was WASN’T in the reports, namely any updates on China Mobile’s talks to develop an iPhone for its struggling 3G network, also based on a Chinese technology standard. One of the two reports late last week cites China Mobile Chairman Wang Jianzhou saying his company has reached an agreement with Apple to work together on an iPhone for the company’s 4G mobile network using a technology called TD-LTE, which is now in advanced trial stages. (Chinese article) A separate article says China Mobile also plans to soon wrap up its first big-scale trials for TD-LTE in six major cities, with plans to start data card trials by the end of the year. (English article) If all goes according to plan, it looks like we could see China Mobile launch serious commercial trials for this 4G network by the end of next year, with full commercial service as soon as 2013 if the telecoms regulator agrees. That’s all fine and good for people looking ahead to 2013, but what’s missing here is any update from the talkative Wang on current talks to build an iPhone for China Mobile’s struggling 3G network, based on a problematic technology called TD-SCDMA. Reports have been rife for a while that China Mobile was close to a deal for a 3G iPhone, after it confirmed last year that such talks were taking place. But Wang’s latest silence looks like either he’s learned to keep quiet on sensitive matters, or more likely the 3G iPhone talks have hit a stumbling block, perhaps due to technology issues. If that’s the case, China Mobile and its stagnant bottom line may have to wait a while still for an iPhone that could bring new life to its 3G and 4G businesses.

Bottom line: China Mobile is making steady progress on its 4G network, but its chairman’s recent silence means talks for a 3G iPhone may have hit a stumbling block.

有报导称，中国移动将扩大4G网络测试，几乎可以确定将与苹果<APPL.O>合作，推适用於中移动自主研发网络的iPhone。但更有意思的是报导没有提及的内容，即有关中移动引进适用其TD-SCDMA网络的3G版iPhone的谈判。上周有报导援引中移动董事长王建宙的说法称，中移动与苹果达成合作协议，将针对中移动的TD-LTE网络推出新款iPhone。另有一篇文章称，中移动还计划尽快结束在六大城市对TD-LTE网络的大规模测试，拟在今年年底前开始数据卡测试。如果一切按计划顺利进行，中移动似乎到明年底前将正式开始TD-LTE网络的商用，如果得到监管部门的批准，最早2013年起将提供全面商用服务。这对於期待4G网络的人来说是好消息，但一向健谈的王建宙却对适用TD-SCDMA网络的iPhone谈判沉默。去年中移动确认在同苹果进行有关引进3G版iPhone的谈判後，有关协议接近达成的报导曾一度甚嚣尘上。但从王建宙近期三缄其口来看，要麽他学会了对敏感问题保持沉默，或者更可能的情况是，3G版iPhone谈判遇阻，很可能是由於技术问题。如果是这样，中移动或需等待一款iPhone问世，为其3G和4G业务带来新的活力，改善其盈利停滞状态。

一句话：中移动在4G网络方面取得稳步进展，但其董事长王建宙近期在3G版iPhone谈判上的沉默表明相关谈判或遇阻。

Related postings 相关文章:

◙ China Telecom Set for Boost With Imminent iPhone Deal 中国电信借力iPhone

◙ Latest Comments Show Why China Mobile’s Conservative Wang Should Retire 王建宙从中国移动退休或许已为期不远

◙ China Mobile Turns Up 3G With New Handset Push 中国移动3G再发力

China Mobile: Where’s the 3G iPhone?

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A flurry of new reports about China Mobile’s highly anticipated 4G network came out toward the end of last week, with news of expanded trials and a near-certain tie-up with Apple (Nasdaq: APPL) for an iPhone that will run on the network’s homegrown Chinese technology. But perhaps more interesting was WASN’T in the reports, namely any updates on China Mobile’s talks to develop an iPhone for its struggling 3G network, also based on a Chinese technology standard. One of the two reports late last week cites China Mobile Chairman Wang Jianzhou saying his company has reached an agreement with Apple to work together on an iPhone for the company’s 4G mobile network using a technology called TD-LTE, which is now in advanced trial stages. (Chinese article) A separate article says China Mobile also plans to soon wrap up its first big-scale trials for TD-LTE in six major cities, with plans to start data card trials by the end of the year. (English article) If all goes according to plan, it looks like we could see China Mobile launch serious commercial trials for this 4G network by the end of next year, with full commercial service as soon as 2013 if the telecoms regulator agrees. That’s all fine and good for people looking ahead to 2013, but what’s missing here is any update from the talkative Wang on current talks to build an iPhone for China Mobile’s struggling 3G network, based on a problematic technology called TD-SCDMA. Reports have been rife for a while that China Mobile was close to a deal for a 3G iPhone, after it confirmed last year that such talks were taking place. But Wang’s latest silence looks like either he’s learned to keep quiet on sensitive matters, or more likely the 3G iPhone talks have hit a stumbling block, perhaps due to technology issues. If that’s the case, China Mobile and its stagnant bottom line may have to wait a while still for an iPhone that could bring new life to its 3G and 4G businesses.

 

Bottom line: China Mobile is making steady progress on its 4G network, but its chairman’s recent silence means talks for a 3G iPhone may have hit a stumbling block.

News Digest: September 17-19, 2011

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The following press releases and media reports about Chinese companies were carried on September 17-19. To view a full article or story, click on the link next to the headline.

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◙ Citic Securities (Shanghai: 600030) Said to Seek Up to $1.9 Bln in IPO Test for HK (English article)

◙ Google (Nasdaq: GOOG) Plans China Expansion With Move Into Display Ads (Chinese article)

◙ China Telecom (HKEx: 728; NYSE: CHA) to Sell iPhone 5 Next Month – Source (English article)

◙ Huawei Hires IBM (NYSE: IBM) as Brand Strategy Consultant (English article)

◙ Former Acer (Taipei: 2353) CEO Lanci Joins Legend Group as Consultant (Chinese article)

Perfect World: Trouble Brewing in Online Games? 完美世界调降财测释放行业预警信号

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With all the buzz out there about a looming China Internet bubble, new downwardly revised guidance from Perfect World (Nasdaq: PWRD), one of China’s more innovative and outward looking online game operators, looks like a potentially worrisome warning flag. According to its newly released latest estimate, the company expects to earn around 720 million yuan in revenue for the third quarter, or about $110 million, down by a sizeable 8 percent from its previous forecast given out just 3 weeks ago for about 780 million yuan. (English announcement) The company cites a new “take it slower” strategy to lengthen the lifecycle of its games, but that didn’t help its shares which tumbled 20 percent on the Nasdaq after it made the announcement. Reaction on Wall Street was mixed for other Chinese online game sites, with Sohu’s (Nasdaq: SOHU) Changyou (Nasdaq: CYOU) and NetEase (Nasdaq: NTES) both down around 5 percent or more, while Shanda Games (Nasdaq: GAME) was down by a more modest 1.1 percent. Up until now I haven’t really discussed whether online games would be affected by China’s looming Internet bubble, as this category gets most of its money from young gamers who are a different set of customers from the more mainstream online shoppers whose overhyped potential is fueling the current bubble in e-commerce and group buying sites. Recent growth in the online game market has been much more reasonable than e-commerce, and the sector has attracted far fewer new investment dollars in the last year, so I think it’s probably a bit too early to say this group is set for a correction based only on this one downward revision. But one or more similar announcements from other big players will definitely cast a chill over this sector, which, despite its more reasonable growth rates, is still highly competitive with a large cast of companies fighting for a relatively small pool of gamers’ spending.

Bottom line: Perfect World’s downward revision for its Q3 revenue is a worrisome signal for the online game sector, though it’s too early to say if a broader shake-up is looming.

就在中国互联网泡沫即将破灭的议论不断之时，极具创新性和外向型的在线游戏运行商–完美世界(PWRD.O)最近下调财测，看似是对互联网泡沫忧虑的印证。该公司最近公布的预测显示，第三季度营收预计为7.2亿元人民币左右，较三周前预测的7.8亿元下降近8%。完美世界称新制定了“放缓”战略以延长游戏产品的生命周期，但这没有对股价形成支撑，声明发布之後该公司股票在Nasdaq市场下跌了20%。华尔街对其他中国在线游戏公司股票的反应好坏参半，搜狐畅游和网易的股价都下跌了5%以上。盛大游戏下跌1.1%，跌幅相对较小。到目前为止，我没有真正谈起中国的互联网泡沫是否会影响到在线游戏公司。这个行业的大部分营收来自年轻的游戏玩家，他们与更加主流的在线购物网站的客户不同，後者易于接受天花乱坠的宣传，可能加速电子商务和团购网站的泡沫化。与电子商务市场相比，最近在线游戏市场增长则更加理性，在过去一年里吸引的投资也远小得多，因此，我认为仅仅根据这一次财测下调尚不足以说明，在线游戏行业发展将出现修正。但是，其他大型公司若发布一两个类似声明，将无疑说明这个行业的危机临近，尽管在线游戏行业增长率更加合理，由于大量公司争夺相对较小的在线游戏收入，业界也充满竞争压力。

一句话：完美世界调降三季度营收预测，发出在线游戏行业令人忧虑的信号，不过要说更大范围的变动即将来临也还为时尚早。

Related postings 相关文章:

◙ Boring Games, Video Drain Drag Down Shanda

◙ Giant Fires CFO, Offers Dividend to Placate Investors 巨人网络CFO辞职 高额分红以安抚投资者

◙ Lenovo’s Game Console — Yet Another Plan 联想：新推游戏机，这次能行吗？

 

Muddy Waters, Taobao Mall Wake Up to China E-commerce Hype

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After several years of near-nonstop hype about the potential of e-commerce in China, notorious China short seller Carson Block and leading e-commerce operator Alibaba Group are both finally waking up to the same reality that much of the talk is vastly exaggerated. In many ways, this reality should come as no surprise to anyone, as even bullish market watchers say that all online sales in China stood at a relatively modest $50 billion last year. So even if they double over the next 2-3 years, we’re still only looking at $100 billion in overall sales by 2015 — a fraction of levels in developed markets like the US and hardly enough to support the huge number of online merchants that have exploded onto the scene in China with billions of dollars in new funding over the last year. According to one media report, Carson Block, who does business through his firm, Muddy Waters, said many Western investors see a small segment of newly wealthy Chinese consumers in big cities like Beijing and Shanghai, and mistakenly extrapolate that to the entire nation of 1.3 billion, even though a big majority of those people live on annual incomes of $2,000 or less. (English article) Meantime, a report in the Chinese media is saying that Alibaba Group’s leading B2C site, Taobao Mall, has raised the threshold for online merchants to use its site, partly in a bid to squeeze more money out of them but also to weed out the many companies that stand little chance of long-term success and could potential damage the site’s reputation with poor customer service and fraudulent business practices. (Chinese article) Taobao’s sister company, Hong Kong-listed Alibaba.com (HKEx: 1688) is currently dealing with a similar situation in the overhyped B2B space, following a scandal earlier this year that saw its CEO resign after the company disclosed a relatively large number of fraudulent merchants operating on its site. (previous post) Alibaba, Block and others are finally waking up to the reality that China’s e-commerce market, while full of long-term potential, has become overhyped and in need of a clean-up of many smaller, less reputable merchants.

Bottom line: The latest comments from short seller Carson Block and news on Taobao indicate a much-needed cleanup is underway for China’s unruly e-commerce sector, with more to come.

Related postings 相关文章:

◙ Wal-Mart Finds Bargain in China’s Internet Bubble

◙ E-Payments: Lots of Noise But Little Space

◙ China Internet Bubble Sees Vancl Dressing Down 中国互联网泡沫见证凡客裁员

 

360Buy IPO: Let the Delays Begin 京东商城放缓IPO进程

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Just a week after leaking out word that it was accelerating plans for an IPO to raise up to $5 billion, leading online merchant 360Buy is waking up to the reality that perhaps nobody wants to buy into its shaky story, with Chinese media reporting the company has decided to slow down the ambitious offering. (Chinese article) Does this come as a surprise to me or anyone else who’s been watching the rapidly chilling market for Chinese IPOs in the US? Any regular readers will know the answer to this question is a definite “no”, and I wouldn’t be at all surprised to see this IPO shelved indefinitely until 360Buy either runs out of cash or market sentiment improves significantly, which in all likelihood won’t happen until late next year. The latest reports, citing people in the investment banking community, cleverly point out that 360Buy wasn’t even planning an IPO until the second quarter of next year anyway, after those same sources got the market buzzing last week by saying the selection of underwriters was underway, implying the blockbuster offering could come as soon as the end of this year. (previous post) Now those investment banking sources are saying that 360Buy is further delaying the process due to “less than perfect” financials, an obvious reference to the fact that the company has yet to turn a profit and previously predicted it wouldn’t even break even until 2012. With the current rampant competition in China’s e-commerce market, I wouldn’t be surprised if 360Buy, which also goes by the name Jingdong Mall and whose investors include Russian Facebook backer Digital Sky Technologies, has to delay its break-even forecast by another year, meaning it won’t be able to show any meaningful profits until 2014 at the earliest. If that’s the case, I wouldn’t be surprised to see this offering delayed until 2013 or even later and for far less than $5 billion, assuming the company is still in business at that point after China’s looming Internet bubble bursts.

Bottom line: 360Buy’s clumsy attempt to test the market for a blockbuster IPO has met with little or no interest, forcing it to delay the deal to to 2013 or later.

仅在一周前，京东商城透露称将加速赴美上市融资50亿美元的计划，但或许是意识到没人买账的现实，据中国媒体报导称，京东商城已决定放缓IPO进程。对于我和其他关注中国企业赴美上市热潮迅速降温的人来说，感到惊讶吗？一直关注我的专栏的读者都知道，答案绝对是否定的。除非京东商城资金链断裂或市场环境明显改善（在明年下半年前都不太可能发生），否则京东商城无限期搁置IPO计划，我一定都不会感到惊讶。近期报导援引投行人士的说法巧妙指出，京东商城甚至不打算在明年第二季度前进行IPO。上述消息人士上周称，京东商城正在选择承销商，暗示其最早今年底将进行IPO，此话引发市场骚动。这些投行消息人士现在却说，京东商城因财务不完善，将进一步推迟IPO时间，明显是指京东商城尚未盈利的事实，先前有人预计，甚至到2012年，京东商城可能都无法实现收支平衡。鉴于中国电子商务市场竞争激烈的现状，如果京东商城将盈利时间点再推迟一年，即最早2014年才有望实现大幅盈利，我不会对此感到惊讶。如果确实如此，我认为，假如中国互联网泡沫破裂後，京东商城还在运营的话，该公司IPO将推迟到2013年或之後进行，融资规模也将远远小于50亿美元，

一句话：京东商城以大规模IPO计划，笨拙试探市场，但感兴趣者寥寥无几，迫使其推迟IPO计划至2013年或之後。

Related postings 相关文章:

◙ Wal-Mart Finds Bargain in China’s Internet Bubble

◙ 360Buy $5 Bln IPO Plan Looks Like Desperation 京东商城50亿美元上市计划凸显绝望

◙ 360Buy Cuts Off Alipay As China Internet Froth Builds 京东停用支付宝印证中国互联网泡沫

 

News Digest: September 16, 2011

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The following press releases and media reports about Chinese companies were carried on September 16. To view a full article or story, click on the link next to the headline.

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◙ 360Buy Slows Down IPO Due To Less-Than-Perfect Financials – Source (Chinese article)

◙ Prudential Financial (NYSE: PRU) and Fosun (HKEx: 656) to launch China life insurance JV (Businesswire)

◙ Perfect World (Nasdaq: PRWD) Adjusts Guidance for Q3 (PRNewswire)

◙ China Mobile (HKEx: 941; NYSE) to Begin TD-LTE Commercial Trials in 2011 – Source (English article)

◙ Muddy Waters’ Carson Block Says Chinese Consumer Demand Is Overstated (English article)

China Telecom Set for Boost With Imminent iPhone Deal 中国电信借力iPhone

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After a few weeks of relative quiet for Apple (Nasdaq: AAPL) in China, there’s new buzz in the telecoms sector that China Telecom (HKEx: 728; NYSE: CHA) is set to start offering the iPhone 5 in October, ending months of speculation about the move. (Chinese article) The Chinese media reports are a bit unclear about whether the smallest of China’s 3 telcos has actually signed a deal with Apple, only saying China Telecom will offer the iPhone 5 starting in October and that vendors are already placing orders for the popular smartphone. That does seem to imply that the two sides have signed a deal, although I would expect an official announcement from China Telecom if that was the case, as clearly this is news it would want to publicize as part of its aggressive drive to build up its fledgling 3G business. Regardless of the actual situation, it does appear that China Telecom will start to offer iPhone service plans by October or November at the latest, which should give it a brief momentum boost over its two chief rivals, China Unicom (HKEx: 762; NYSE: CHU) and industry titan China Mobile (HKEx: 941; NYSE: CHT) as the 3 jostle for share in China’s 2-year-old 3G market. I use the word “brief” because China Telecom will probably only have a 2 or 3 months to bask in its new iPhone deal before China Mobile announces a bigger new deal to offer an iPhone that can work on its own 3G network, based on a homegrown Chinese technology called TD-SCDMA. (previous post) Such a deal has been rumored for months and appears to be near, which should help China Mobile take back some of the momentum it has lost over the last 2 years to China Telecom and Unicom, which already offers the iPhone. Of course, the winner in all this will be Apple itself, which will be able to use all 3 of China’s telcos to offer its iPhones that enjoy huge popularity in China — the world’s largest mobile market with more than 900 million subscribers. But among the carriers themselves, look for China Telecom to enjoy some momentum through the end of this year, which it will rapidly lose in 2012 after China Mobile signs its own iPhone deal.

Bottom line: China Telecom’s imminent deal with Apple to offer iPhones for its 3G network will give it new momentum over its rivals that will last through the end of the year.

围绕苹果(AAPL.O)的消息在中国刚相对平静了几周，通信业内又传出中国电信(0728.HK)(CHA.N)将于10月率先在中国推出iPhone 5的消息，结束此前几个月的坊间猜测。中国媒体称，还不清楚中国电信是否已经确实与苹果签订了有关协议，只是说中国电信将从10月开始提供iPhone 5， 经销商已经下单采购。这看似意味着双方已经签约，不过我预计若确有此事，中国电信会发布正式公告。这明显是中国电信想对外散布消息，也是希望推广其3G业务努力的一部分。无论实际情况如何，中国电信看似确实要在10月或最晚11月开始推出iPhone服务计划。这无疑在中国电信在3G领域挑战中国联通和中国移动过程中，带来短时的提振。我说“短时”是因为中国电信可能只会赢得两三个月的时间，享有拓展iPhone业务的领跑优势，随後中国移动可能会宣布更大规模基于其3G标准–TD-SCDMA网络的iPhone推广计划。关于中移动的传闻已经有几个月，现在似乎已经快要接近现实了，这将帮助中移动收复过去两年流失到中国电信和中国联通的部分失地。无疑，苹果将是上述竞争的最终获益者，能够利用中国全部三家电信公司的渠道售卖iPhone，而苹果的iPhone产品在拥有逾九亿用户的全球第一大移动通讯市场享有极高人气。但是，从各家中国电信运营商来看，中国电信在年底前会享受些许成长助力，在明年中国移动签约自己的iPhone之後，中国电信在这方面的优势将迅速消退。

一句话：中国电信即将签约苹果，提供用于其自身3G网络的iPhone业务启动在即，将在移动通讯市场竞争中获得新的动能，但好光景也许只能维持到年底。

Related postings 相关文章:

◙ Latest Comments Show Why China Mobile’s Conservative Wang Should Retire 王建宙从中国移动退休或许已为期不远

◙ China Mobile Turns Up 3G With New Handset Push 中国移动3G再发力

◙ China Mobile Nears iPhone Deal, Continues 4G Press 中移动iPhone协议近尾声 加紧4G攻势