real-time news and commentary for investors
Friday, Aug 23
China Mobile hands out $3.2B worth of 4G orders
- Reuters adds to earlier speculation about China Mobile (CHL) awarding initial contracts worth a total of 20B yuan ($3.2B) for the expansion of its 4G network.
- Ericsson (ERIC), Alcatel-Lucent (ALU) and Nokia's (NOK) NSN have each won deals worth around 10% of the total tender. China's Huawei and ZTE have obtained 25% each. Some of these numbers are different from the previous speculation.
- The build-out of China Mobile's 4G network should help further pave the way for the mobile carrier, which has over 700M customers, to finally strike a deal with Apple (AAPL), whose upcoming devices are expected to support the operator's 4G TD-LTE technology.