China Unicom Rallies on iPhone Growth Hopes

is projected to make big profits as it is currently the only distributor of iPhones within China. From Market Watch:

Investors are betting on China Unicom and the status that goes with being the only distributor of the handset in an oversized wireless market.

The Hong Kong-listed shares of China’s second-largest cellular operator (HK:762 14.42, +0.88, +6.50%)  rallied Friday to end at their highest level in more than two and a half years, or a historic 80 times current earnings.

Investors said the gains were sparked by a more optimistic view taken toward the carrier  (CHU 18.44, +0.09, +0.50%)  by UBS, which lifted its share-price target by 47% to $20 Hong Kong dollars ($2.57) from HK$13.6, citing success in attracting subscribers to Unicom’s third-generation network.

Analyst Wang Jinjin entitled her Friday report: “Explosive 3G growth approaching.” In it, she noted that China Unicom looks set to benefit the most from among the mainland’s trio of 3G providers.

Categories :

Tags :,

SUPPORT CDT

Tweets

Google Ads 1

CDT EBOOKS

Giving Assistant

Amazon Smile

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.