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"We believe affordable smartphone solutions supplied by Spreadtrum (SPRD +10.6%) and other...

"We believe affordable smartphone solutions supplied by Spreadtrum (SPRD +10.6%) and other competitors have resulted in extremely strong smartphone sales growth trends in tier-3 to tier-6 cities in China," says Canaccord's Mike Walkley, who upgraded Spreadtrum to Buy in response to its Q2 guidance hike. Unsubsidized prices for low-end Chinese Android phones have tumbled to the $100 range, and while the country's smartphone penetration rate has soared over the last year, it's still well below 50%. Walkley now sees Spreadtrum producing 2014 EPS of $3.24, up from a prior $2.71.
Comments (2)
  • Would be nice if they had made the call before the cat was out of the bag...
    13 Jun 2013, 06:16 PM Reply Like
  • When do we get $100 smartphones in the US?
    13 Jun 2013, 07:55 PM Reply Like
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