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Chinese Government Issues 3G Licenses, Mobile Shares Soar

Spending of over $40 billion expected for equipment costs
By Wireless News Desk
Article Rating:
January 5, 2009 01:15 AM EST
Reads:
 1,188

Shares in Chinese mobile companies soared last week after China approved the issuance of licenses for next generation (3G) mobile networks.

China's state council approved the issuance of the long-awaited licensees, opening the door to some $41 billion in spending for equipment.

Competition to win 3G subscribers will be fierce, said analysts, meaning the only sure winners from the 3G license issuing will be 3G equipment manufacturers.

The council did not say when the licenses would be issued by the Ministry of Industry of Information, but the industry minister has said it would happen by early 2009.

Published January 5, 2009 – Reads 1,188
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