China Telecom plans 80b yuan spending
[2008-7-31]
Tag : Mobile Phone CDMA
China Telecom (SEHK: 0728 ) Group will spend 80 billion yuan (HK$91.6 billion) over the nextthree years on mobile network infrastructure as the mainland'slargest fixed-line carrier moves to become a leading force in themobile market.
China Telecom chairman Wang Xiaochu said in Hong Kong yesterdaythat the investment would follow the acquisition of China Unicom (SEHK: 0762 , announcements , news ) 's code division multiple access (CDMA) mobile business in October.
Beijing is shaking up the telecommunications industry by compellingfixed-line players to buy mobile assets. The aim is to boostcompetition by creating companies that offer fixed-line and mobileservices.
China Telecom has set an ambitious target of having 100 millionmobile phone CDMA users within three years, equating to a 15 percent share of the world's biggest mobile market. There arecurrently 43 million users on the platform. The company also aimsto have the mobile business profitable by 2010.
Analysts said this could be difficult considering China Mobile (SEHK: 0941 , announcements , news ) has 69 per cent of the nation's 600 million mobile users. The CDMAplatform, owned by Unicom, has only a 7.19 per cent share.
China Telecom Group and its Hong Kong-listed subsidiary ChinaTelecom reached agreement on Sunday with China Unicom Group and itslisted subsidiary China Unicom to acquire the CDMA network andsubscriber base for 110 billion yuan.
China Telecom (SEHK: 0728 ) Group will spend 80 billion yuan (HK$91.6 billion) over the nextthree years on mobile network infrastructure as the mainland'slargest fixed-line carrier moves to become a leading force in themobile market.
China Telecom chairman Wang Xiaochu said in Hong Kong yesterdaythat the investment would follow the acquisition of China Unicom (SEHK: 0762 , announcements , news ) 's code division multiple access (CDMA) mobile business in October.
Beijing is shaking up the telecommunications industry by compellingfixed-line players to buy mobile assets. The aim is to boostcompetition by creating companies that offer fixed-line and mobileservices.
China Telecom has set an ambitious target of having 100 millionmobile phone CDMA users within three years, equating to a 15 percent share of the world's biggest mobile market. There arecurrently 43 million users on the platform. The company also aimsto have the mobile business profitable by 2010.
Analysts said this could be difficult considering China Mobile (SEHK: 0941 , announcements , news ) has 69 per cent of the nation's 600 million mobile users. The CDMAplatform, owned by Unicom, has only a 7.19 per cent share.
China Telecom Group and its Hong Kong-listed subsidiary ChinaTelecom reached agreement on Sunday with China Unicom Group and itslisted subsidiary China Unicom to acquire the CDMA network andsubscriber base for 110 billion yuan.
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