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.
Benzinga  Mar 17  Comment 
Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq: MOBI), a leading mobile application store in China, today announced that the Company, through its controlling subsidiary Mopin Technology Co., Ltd., has recently entered into a...
Forbes  Mar 14  Comment 
Initially, the company was unable to decide between TD-LTE and FDD-LTE technology for its 4G launch, which gave a competitive advantage to its peers, who had already launched their services. Moreover, the delay in the issuance of FDD licences and...
SeekingAlpha  Mar 7  Comment 
By Doug Young: The 4G strategies of China’s 2 smaller telcos are starting to emerge under an unusual hybrid scheme being rolled out by the nation’s telecoms regulator, and the path being pursued by China Unicom (CHU) certainly doesn’t look...
Forbes  Mar 4  Comment 
China Unicom's net profit soared 47% year-over-year (y-o-y) to RMB 10.5 billion ($1.7 billion) in 2013 on solid sales growth in 3G as well as fixed-line broadband services. 3G service revenues grew about 50% on account of rapid subscriber growth,...
Wall Street Journal  Feb 27  Comment 
China Unicom's net profit last year rose 47% from a year earlier, as it gained mobile subscribers and reduced handset subsidies.
SeekingAlpha  Jan 25  Comment 
By CJ Capital Research: In my last article, I wrote about why China Mobile (CHL) may be a good long-term investment opportunity given its discounted stock price and market positioning. In light of the recent sell off of China-based large-cap...
CNNMoney.com  Jan 16  Comment 
China Mobile will start selling iPhones on Friday after years of feverish anticipation, and Apple CEO Tim Cook is getting the party started with a visit to Beijing.
SeekingAlpha  Jan 7  Comment 
By Doug Young: We're just a week into the New Year, and already new signs of political shenanigans at the nation's 2 leading wireless telcos, China Mobile (HKEx: 941; NYSE: CHL) and China Unicom (HKEx: 762; NYSE: CHU), are hinting at turbulence...


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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