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China Mobile Limited

5/24/2013, 7:21 PM ET

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Monday, May 20, 2:03 PM Apple (AAPL +1.9%) roundup: 1) Brian White cites Chinese 3G growth as a reason for his $888 PT: he points out China's 3G sub base rose 83% Y/Y in April to 293.1M, and is expected to hit 375M-400M by year's end. China Mobile (CHL - previous) had 120M 3G subs; China Unicom (CHU) had 92M, and China Telecom (CHA) 81M. 2) Taiwan's Economic Times reports Apple is testing 1.5" OLED displays for an iWatch, and that "market rumors" indicate Foxconn has received iWatch trial production orders. 3) Digitimes reports MacBook orders are expected to grow 20% Q/Q in Q2, as Apple launches new systems sporting Intel Haswell CPUs at June's WWDC conference. 17 Comments [Tech]
Wednesday, May 8, 12:40 PM The Chinese government is expected to issue 4G TD-LTE licenses by year's end, writes Morgan Stanley's Katy Huberty in a bullish note on Apple (AAPL +1.2%). The licenses could pave the way for China Mobile (CHL), which has 700M+ subs and is spending $6.75B this year on its TD-LTE network (still in trial mode), to begin selling the iPhone. One potential roadblock: China Unicom (CHU) and China Telecom (CHA) want the government to take its time in issuing TD-LTE licenses. CHA wants to delay its 4G capex, and both carriers are supporting the FDD-LTE standard (far more popular outside of China). (AAPL/CHL agreement) 6 Comments [Tech]
Tuesday, May 7, 1:37 PM Sina (SINA -2.5%) gives back yesterday's gains after Tencent (TCEHY.PK) says it has reached "preliminary solutions" with Chinese mobile carriers (CHL, CHU, CHA) regarding its very popular WeChat mobile IM platform, which both generates heavy traffic and eats into text-messaging revenue (China Mobile's text revenue fell 4.8% last year). That's likely raising fears Sina might have to pay carriers for the traffic produced by Weibo, arguably WeChat's top rival. Tencent has said it's unlikely to charge WeChat users. Comment! [Tech, On the Move]
Friday, May 3, 11:42 AM Ericsson (ERIC +1.1%) has sold its power cable unit, which had 2012 sales of SEK1.5B ($231M), to Demark's NKT Cables for SEK250M ($38.5M). Also, the mobile infrastructure giant says it expects tough price competition in China as 4G buildouts get underway. China's 3 carriers plan to spend $56B this year on capex, and China Mobile (CHL - the world's biggest carrier) plans to increase capex by 49% to ~$31B. $6.75B of that will be used to set up 200K base stations for CHL's nascent 4G TD-LTE network - Alcatel-Lucent (ALU) should get a portion of it. Comment! [Tech, M&A]
Monday, April 8, 12:33 PM After a Chinese government official suggested Tencent (TCEHY.PK) will "have to pay fees" to mobile carriers (CHA, CHL, CHU) for the use of its extremely popular WeChat mobile IM/social networking platform, Tencent tells its users it's unlikely to charge for WeChat. Much like their European peers, Chinese carriers have seen their text messaging revenue pressured by the adoption on Web-based services such as WeChat. Sina (SINA) recently admitted WeChat, which now has 300M+ registered accounts, has been affecting Weibo usage. Comment! [Tech]
Tuesday, April 2, 7:03 PM "We believe that Apple (AAPL) will launch the iPhone 5S at China Mobile (CHL) this July, as it launches the next iteration of the iPhone globally," writes Wedge Partners' Brian Blair, without elaborating on his sources. The remarks come a little less than 3 months after Apple and China Mobile signed a confidentiality agreement. Blair sees a 5S model supporting China Mobile's TD-SCDMA 3G network likely entering production in May. (WSJ report) 26 Comments [Tech]
Monday, March 25, 2:17 PM NTT DoCoMo (DCM) is launching a China-specific version of its d-game mobile gaming service within China Mobile's (CHL) Mobile Market portal. 20 titles will be supported at launch time. The announcement comes 8 months after DoCoMo formed a mobile content JV with Chinese search kingpin Baidu. The Japanese carrier has a long history of striking mobile data services deals with foreign peers, with mixed results. Comment! [Tech]
Wednesday, March 20, 10:00 AM Another day, another upgrade for Spreadtrum (SPRD +4.5%). Jefferies' Ken Hui, who is lifting shares to Buy, observes China Mobile's (CHL) strong TD-SCDMA 3G sub growth is increasing the market for Spreadtrum's baseband chips, and that prices have stabilized thanks to supply constraints. The firm now sees China Mobile posting 2013 TD-SCDMA net adds of 74.4M and phone shipments of 139M (+88%). Such growth is also a positive for Marvell (MRVL) and Qualcomm (QCOM). (Chardan Capital upgrade) 1 Comment [Tech, On the Move, Quick Ideas]
Thursday, March 14, 3:26 AM China Mobile (CHL): Q4 net profit +6.1% to 36B yuan ($5.79B) vs consensus of 32.3B yuan. Revenue +5.3% to 151.8B yuan vs 150.4B yuan. Wireless data revenue +54% in 2012, and becomes "a major driver of operating revenue growth." App store users and downloads "dramatically" increase. To boost capex 49% to 190.2B yuan in 2013 as it builds its 4G network. (PR) 1 Comment [Earnings, Tech, Consumer]
Wednesday, March 6, 12:16 PM With domestic growth slowing, China Mobile (CHL -1.6%) is on the lookout for foreign acquisitions, says chairman Xi Guohua. Thus far, the giant carrier's only foreign M&A move has been its '07 purchase of Pakistani carrier Paktel. The fact CHL is state-owned could lead to tough regulatory scrutiny of proposed deals. Comment! [Tech, M&A]
Wednesday, March 6, 4:56 AM China plans to issue 4G network licenses by the end of 2013, Industry & Information Technology Minister Miao Wei has said. "China has made breakthroughs in R&D of 4G technologies, but is still facing restrictions in commercial use," Miao said. China Mobile (CHL) has already begun 4G trials in several Chinese cities. 3 Comments [Tech, Consumer]
Monday, February 25, 4:06 PM A downgrade to Underweight from HSBC leads Alcatel-Lucent (ALU -5%) to close with decent losses. The downgrade comes on a day when ALU and China Mobile (CHL) jointly announced a new lightRadio small cell base station CHL plans to use within its TD-LTE 4G network. ALU is already a major supplier for CHL's multi-city 4G trial network. 5 Comments [Tech, On the Move]
Friday, January 25, 6:32 PM A 5th-gen regular iPad (AAPL) will launch in October and feature "virtually no left or right bezels, and only enough space above and below the screen" to allow for a camera and home button, says iLounge, which has passed on accurate iRumors in the past. The info is generally in-line with a recent report from KGI Securities. iLounge also claims Apple is planning to launch an iPhone 5S sporting an improved camera this summer, and is developing a cheaper, plastic-bodied iPhone "with China Mobile in mind." An iPhone with a 4.7" display is said to be in "early prototyping stages." 49 Comments [Tech]
Wednesday, January 23, 12:22 PM China Mobile (CHL) says it sold over 60M TD-SCDMA 3G phones in 2012, and hopes to double that figure in 2013. Moreover, the world's biggest mobile carrier hopes 80% of those sales will involve smartphones, which are more likely to use ARPU-lifting data subscriptions. TD-SCDMA baseband chip vendors Spreadtrum (SPRD), Marvell (MRVL), and MediaTek must be pleased to hear those remarks. So might Qualcomm (QCOM), which recently announced baseband chips for CHL's network. (Apple talks) Comment! [Tech]
Thursday, January 10, 6:50 PM While Phil Schiller cooled off speculation about a dirt-cheap iPhone arriving, some of Apple's (AAPL +1.2%) biggest sell-side supporters circled the wagons today. Gene Munster, while lowering his PT to $875 from $900, estimates Apple will take 50% of a market for $400+ phones he pegs at 320M units in 2013. Topeka's Brian White notes Tim Cook's remarks about China Mobile (CHL) are similar in tone to ones made about China Telecom before an iPhone deal was reached. Baird's Will Power: "...all of our checks suggest that demand remains very good." 18 Comments [Tech]
Thursday, January 10, 7:44 AM Apple (AAPL) CEO Tim Cook met with China Mobile (CHL) Chairman Xi Guohua today, when they discussed "matters of cooperation" and signed a confidentiality agreement. The talks have increased hopes of a breakthrough between the companies that would allow China's largest operator to offer iPhones. Tim Cook said he is confident the country will soon become Apple's largest market, with the company planning to increase the number of stores there to over 25 from 11. (previous) 4 Comments [Tech, Consumer, Top Stories]

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