China Telecom Set to Sell iPhone 4S
China Telecom Corp (NYSE: CHA, HKG: 0728) will become the nation's second wireless carrier – after China Unicom Ltd (NYSE: CHU, SHA: 600050, HKG: 0762) – to offer Apple Inc's (NASDAQ: APPL) iPhone 4S when it starts selling the smartphone in the country on March 9. China Telecom said it will offer a two-year contract with a free 16GB/32GB handset and a monthly service plan charging ¥386 and a three-year plan that will cut the price to ¥286/month.
China Unicom Has 43m 3G Customers
China Unicom Ltd (NYSE: CHU, SHA: 600050, HKG: 0762), Apple's only authorized retailer of its iPhone series in China, said it attracted 3.05 million 3G service subscribers in January, taking the total number to 43.07 million. The number of its 2G service users rose by 182,000 to almost 160 million last month.
Hanting Targets Higher-End Customers
China Lodging Group Ltd (NASDAQ: HTHT), a budget hotel operator commonly known as Hanting Inns, said it plans to open 30 to 40 Hanting Seasons Hotels in 2012 and open 50 such hotels annually in the next two to three years. Hanting Seasons Hotel is the company's relatively high-end brand, which was launched in 2010 and currently operates 23 locations nationwide.
Ctrip Q4 Earnings Down 16% Despite Higher Revenue
Ctrip.com International Ltd (NASDAQ: CTRP), China's biggest online travel service provider, posted ¥926 million in revenues and ¥253 million in net profits for Q4 2011, up 18% and down 16% respectively year on year. For the whole of 2011, its revenue was up 21% to ¥3.5 billion and net profit was up 3% to ¥1.1 billion. Increased advertising expenses were blamed for the poor performance in earnings.
CNPC to Build Logistical Facility in Dubai
CNPC, China's largest oil producer and the parent of PetroChina Co (NYSE: PTR, SHA: 601857, HKG: 0857), said it plans to build a 200,000m2 logistics center in Dubai to reduce its geopolitical risks in the Middle East and North Africa and hence stabilize its business in the unrest-prone region. It did not reveal the budget for the project.
ZTE to Buy $5b of Chips from Qualcomm, Broadcom
ZTE Corp (SHE: 000063, HKG: 0763), China's second largest telecom device maker, said it agreed to buy $5 billion worth of chips from Qualcomm Inc (NASDAQ: QCOM) and Broadcom Corp (NASDAQ: BRCM) in four years' time. ZTE will buy $4 billion of goods from Qualcomm between 2012 and 2015 and $1 billion of goods from Broadcom between 2012 and 2014.
$1 = ¥6.3
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