Spreadtrum (SPRD +9.8%) spikes higher after JPMorgan upgrades shares to Overweight in response...

|About: Spreadtrum Communications, ... (SPRD)|By:, SA News Editor

Spreadtrum (SPRD +9.8%) spikes higher after JPMorgan upgrades shares to Overweight in response to a report China Mobile (CHL) has placed orders for low-end 3G phones from four local vendors, and that all of the phones run on Spreadtrum's baseband chips. Spreadtrum has benefited from the rapid uptake seen for China Mobile's 3G TD-SCDMA network, though concerns have been aired about competition from Marvell, MediaTek, and Qualcomm.