Net revenue at state-backed carrier China Mobile dropped 15% annually in the first half of the year, according to an earnings statement filed with the Hong Kong Stock Exchange.
Why it matters: The world’s largest telecom operator in terms of subscriber numbers attributed the decline to intensifying competition in an almost-saturated “traditional telecommunications market,” hinting that the company is banking on 5G to bring an upturn in business fortunes.
The 4G penetration rate in China hit 84% at the turn of the year, according to a Ministry of Industry and Information Technology report in January.
The Chinese government’s push to lower data charges also led to the poor results, said the company.
China has stepped up the development of 5G networks and has received a commercial 5G license in June, along with fellow state-owned carriers, China Unicom and China Telecom.
Details: Net profit for the six months ended June 30 was RMB 56 billion ($8 billion), compared with RMB 65.6 billion in the same period last year.
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Oct 15 (Liberal Tribune) – Hong Kong stocks slipped on Tuesday in stresses over China’s economic health and vulnerabilities around Sino-U.S. exchange talks, however, losses were constrained as the city’s national bank cut banks’ capital buffer to help the economy.
HK-Shanghai Connect daily quota used 5.9%
Shanghai-HK daily quota used 2.8%
HSI -0.1%, HSCE -0.1%, CSI300 -0.4%
Related: Trump to meet China envoy, lifting hopes for trade talks.
Hong Kong stocks end down amid trade
The global 5G market is expected to drive significant disruption across industries and end users, especially in China, which is leading the race in successfully rolling out the technology.
The global 5G market is poised to provide 5G internet speed that will be approximately 20 times faster than 4G, and that too with the minimum download speed capped at 20 GB/s (while 4G can muster only 4 GB/s).
10 100 Mbps to 10 Gbps and beyond, indicating a massive shift towards more seamless and effective connectivity.
The advent of 5G is expected to translate into the following benefits for businesses and consumers:
• Shorter delays: 5G will facilitate larger data transfers as well as minimize the lag in time from when data is sent/received.
• Mobility: 5G enables base stations to support movement from 0 to 310 mph, meaning sustainable operations on-the-go (e.g., on a high-speed train).
Chinese mobile-phone and device maker Transsion will list in an IPO on Shanghai’s STAR Market, Transsion confirmed to TechCrunch.
The registration application and issuance process is still underway, with the specific timetable yet to be confirmed by the CSRC and Shanghai Stock Exchange,” a spokesperson for Transsion’s Office of the Secretary to the Chairman told TechCrunch via email.
STAR is the Shanghai Stock Exchange’s new Nasdaq-style board for tech stocks that also went live in July with some 25 companies going public.
Transsion plans to spend the bulk of its STAR Market raise (1.6 billion yuan or $227 million) on building more phone assembly hubs and around 430 million yuan ($62 million) on research and development, including a mobile phone R center in Shanghai—a company spokesperson said.
Transsion recently announced a larger commitment to capturing market share in India, including building an industrial park in the country for manufacture of phones to Africa.
The IPO comes after Transsion announced its intent to go public and filed its first docs with the Shanghai Stock Exchange in April.
Once again the China shows its power to the mobile app world and the rest of the world by taking down all VPN (Virtual Private Network Services) in the country.
On the command of the Chinese government, Apple has removed all the VPN apps from the App Store in China.
The company shared the information through its blog post by saying that the Apple had been purging out the apps from the App Store.
Another app, Star VPN was also removed from the App Store in the name of 'illegal content' as per Chinese government laws.
The company tweeted about the purge of Apple and removal of their app from China based App Store.
The Chinese government immediately implemented the law saying that VPN service is illegal in China, which is introduced in January and in order to operate they need to have the government approval first.
Latest Mobile Phone Vivo Z5x Launched In China - 24th.
Best Gadget Vivo Z5x Product on Friday created its admission in China.
The new smartphone may be an allotment of the company's Z-series and joins the company's mid-range smartphone portfolio aural the country.
The buzz goes on auction next anniversary in China, but the Asian nation launches data aboveboard admeasurement an abstruseness at this time.
14,400 for the 4GB + 64GB alternative in China.
The 6GB + 64GB, 6GB + 128GB, and 8GB + one28GB variants can retail at CNY 1,498 - almost Rs.15,400, CNY 1,698 - almost Rs.
