Forbes  Jul 3  Comment 
We expect the hybrid license to help China Unicom improve its monthly subscriber adds and pose a bigger challenge to China Mobile?s dominance in 4G. However, it remains to be seen how the carrier intends to increase the supply of handsets...
StreetInsider.com  Jun 30  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/China+Unicom+%28CHU%29+Approved+to+Conduct+TD-LTELTE+FDD+Hybrid+Network+Trial+in+Several+Cities/9622417.html for the full story.
SeekingAlpha  Jun 25  Comment 
By Trefis: China Unicom‘s (CHU) consistent gains in the Chinese wireless market continued in May, as it added over 3.3 million high-speed (3G & 4G) subscribers, taking its total 3G/4G subscriber count to about 138 million. Owing to the loss of...
Forbes  May 28  Comment 
Although China Unicom entered the 4G market a couple of months ago, we expect it to make significant gains only when the government awards FDD-LTE licenses to carriers. Reports in the media suggest it could be within the next few months.
Forbes  May 12  Comment 
A joint network infrastructure company is likely to benefit all the carriers by reducing their capital expenditures and lowering operating expenses, ultimately driving their bottom line. However, China Mobile could lose its first mover advantage...
Forbes  Apr 14  Comment 
In the wake of aggressive expansion in the 3G/4G space by market leader China Mobile, China Unicom reported an increase of just 4.7 million wireless subscribers in the first two months of this year, compared to about 6.8 million in the same period...
Benzinga  Apr 10  Comment 
VisionChina Media Inc. ("VisionChina Media" or the "Company") (Nasdaq: VISN), one of China's largest out-of-home digital television advertising networks on mass transportation systems, today announced it has entered into a strategic partnership...
SeekingAlpha  Mar 28  Comment 
By Trefis: China Unicom (NYSE:CHU), the second largest wireless carrier in China, finally launched 4G services in the country last week. It is last among the Chinese carriers to launch 4G, after the government awarded 4G TD-LTE (Time...
Cellular News  Mar 18  Comment 
China Unicom has formally launched its 4G network, with coverage initially available in 25 cities. Click here for more.


Beijing-based China Unicom Limited (China Unicom) provides a wide range of telecommunication services throughout China. With approximately 30% of the total mobile phone users in China, China Unicom is the second largest mobile operators in China behind China Mobile. The company's primary source of revenue is its wireless services, which are based on both the global system for mobile communications (GSM) and code division multiple access (CDMA) technologies. Other telecom services provided by China Unicom include domestic and international long distance and Internet services. As of 2006, revenues from GSM business and CDMA business each accounted for 63% and 29% of total revenue, respectively. Data and internet business, long distance business and sales of telecommunications products totally accounted for 8% of the total revenues. China Unicom is currently the sole provider of CDMA services in China. As of December 31, 2007, the company had 119 million GSM subscribers and 41 million CDMA subscribers.

China Unicom's net income for the third quarter of 2007 increased 114% over the same period of 2006 because of its rapid growth of GSM revenue and cost control. However, the net income still didn't meet the market consensus. The company still faces fierce competition from aggressive GSM pricing offered by China Mobile. It maintains separate GSM and CDMA networks, which dilutes management focus and operating efficiency. CDMA is expected to be Unicom's future growth driver, but high infrastructure and handset costs place it at a disadvantage to China Mobile's GSM service. Unicom's growth potential through CDMA is offset by competitive threats and high costs relative to GSM. However, the company was able to increase its profit margins because of cost controls. Moreover, although its stock price increased significantly due to market speculation, the stock appears fairly valued, considering the possible restructuring in telecom industry in China and its 3G opportunities in China. Thus, we maintain our Hold recommendation.


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