China's second largest mobile phone operator said its total revenue for the nine-month period grew only 3 pct due to fierce competition in the sector.
ARPU - Average revenue per user - in the nine months for GSM service dropped slightly to 42.8 yuan from 43.6 yuan in the first half.
APRG beleives China Unicom is well-positioned to benefit from the next phase evolution of the mobile industry in China, now that the company will sunset the lackluster CDMA business and merge with China Netcom. Additionally, we belive that the government's policies are seen to favour this smaller player over the giant China Mobile.
Looking forward, China Unicom is progressing in its plans build and operate 3G networks, and will establish an entity for the service once it obtains a 3G license. China Unicom is expected to operate a WCDMA network.
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