ZTE Corp (Shenxhen, P.R.C.) and China Unicom (Beijing, P.R.C.), China’s second largest telecommunications equipment maker and carrier respectively, reported third quarter net profit that missed expectations, with both companies grappling with pressured margins.
ZTE posted a second straight fall in quarterly profit mainly due to the weakness in the euro and a delay in value-added tax rebates, while China Unicom's profit was up by a worse-than-expected 21% as it doled out subsidies to attract more 3G users.
Telecom operator Telefónica (Madrid Spain), through its recently created unit Telefónica Digital, and China Unicom (Beijing, China) last week signed a strategic agreement to promote the development of M2M and the Internet of Things in a global scope. The objective of the partnership includes making advances in the M2M industry through different technologies such as cellular communications, identification by radiofrequency (RFID), sensors and global positioning systems (GPS).
Chinese officials have outlined plans to invest nearly $500 billion in electric power infrastructure - including roughly $90 billion in smart grid technologies - by 2020, a strategy experts say could significantly improve the nation's energy efficiency and cement a dominant position in the smart grid market.
China Mobile (Beijing, China), the world's largest mobile carrier by subscribers, has 10 million iPhone users even though it does not yet have an agreement with iPhone maker Apple, says its chairman.
Wang Jianzhou also said Apple had promised to make an iPhone compatible with China Mobile's TD-LTE standard when its next-generation model comes out. He could not say when this would happen.
"We have not yet got agreement with Apple," say Wang. "Apple promised to provide, when they develop the iPhone for LTE, that it will include TD-LTE. We are discussing the details."
The third quarter could mark the end of a hot streak for Ericsson (Stockholm, Sweden) as a combination of a global slowdown, tough competition and an increase in low margin business cloud the outlook for the world's top mobile equipment firm.
The last three quarters have seen booming sales at Ericsson's key networks unit, driven largely by investment in mobile broadband in the United States and second generation equipment in China.
China Telecom Corp Ltd (Beijing, China), the smallest of the country's three telecommunications operators, said on Tuesday that its mobile subscribers increased to 113.53 million in August, including 25.61 million 3G subscribers.
China Telecom said on its website that 3G subscribers rose by 2.05 million in August, while total users increased by 2.59 million.
China Mobile Communications Corp (Beijing, China) and Clearwire Corp (Kirkland, Wash., U.S.A.) have teamed up to develop high-speed mobile devices and infrastructure, potentially giving the cash-strapped U.S. 4G operator a technological boost.
Shares of Clearwire closed up 7% at $2.73 after the news as investors bet that Clearwire's collaboration with China Mobile, the world's largest wireless operator, decreased the risks around Clearwire's future technology choice.
Huawei Technologies Co Ltd (Shenzhen, P.R.C.), the world's second largest network equipment maker, expects its deals in the enterprise sector to total more than $7 billion by next year, banking on demand from key markets such as China, a senior executive said.
Huawei also plans to triple staff numbers at its enterprise unit to about 30,000 in the next three years from 10,000 expected by the end of this year, to compete with the likes of Cisco Systems Inc and Hewlett-Packard Co, with half in research and development.
The Hertz Corporation (Park Ridge, N.J., U.S.A.), a car rental company, last week announced the expansion of its Global Electric Vehicle (EV) initiative to China, marking the first EV rental service to be offered in the country.
Hertz now offers EVs across the U.S. in cities including New York, Washington, D.C., San Francisco, Los Angeles, and in London, United Kingdom and other cities in Europe.
Telecom equipment vendor Alcatel-Lucent (Paris, France) and China's State Grid Information and Telecommunication Co. (SGIT), a unit of utility company State Grid Corporation of China (Beijing, China) (SGCC), announced a partnership on Friday to provide technology that accesses data used to track energy usage from devices such as smart meters, analyze that data and deliver that information to the utility company.