China Unicom
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| Type | Public company SEHK: 0762 SSE: 600050 NYSE: CHU |
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| Founded | 2000 |
| Headquarters | Beijing  China |
| Area served | Mainland China |
| Key people | Chairman & CEO Chang Xiaobing CFO Tong Jilu |
| Industry | Telecommunication |
| Products | Voice services Mobile services Internet Broadband |
| Revenue | RMB ¥99 billion ▲ (2007) |
| Net income | RMB ¥9.3 billion (2007)[1] |
| Employees | 48,162 [2] |
| Parent | China United Telecommunications Corporation Limited |
| Website | www.chinaunicom.com/ |
China Unicom or China United Netcom (Hong Kong) Ltd (Chinese: 中国联合网络通信公司，中国联通), (SEHK: 0762 SSE: 600050 NYSE: CHU), is a telecommunications operator in the People's Republic of China. It is 40.92% of the company is effectively held by the China Unicom (BVI) Limited and 29.49% by China Netcom Group (BVI) Limited[3], while the remainder is traded on the Shanghai, Hong Kong and the New York stock exchanges[4]. Both majority shareholders are entities controlled by state enterprises China United Telecommunications Corporation Limited and China Network Communications Group Corporation.[5]
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[edit] History
China Unicom was founded as a Government-owned corporation, established on July 19, 1994, by the Ministry of Information Industry and approved by the State Council.
Started as a wireless paging and GSM mobile operator, it currently provides a wide range of services including nationwide GSM and CDMA mobile networks, long-distance, local calling, data communication, Internet services and IP telephony in mainland China, and has operated a CDMA network in Macau since 18 October 2006. As of the end of April 2008, the company had 125 million GSM subscribers and 43 million CDMA subscribers[6]. As of November 2008 the CDMA operations have been moved to China Telecom and UMTS (Universal Mobile Telecommunications System) has just launched in major cities across China on May 17, 2009.
Compared to other mobile providers China Unicom is ranked as the world's third-biggest mobile provider. On 7 January, 2009, China Unicom was awarded WCDMA license to expand its business to 3G telecommunication.[7]
In July 2009, China Unicom signed a $700 million deal with mobile phone brand Ericsson to upgrade the company's GSM network.
[edit] Merger with China Netcom
On June 2 2008, China Unicom announced its intention to sell its CDMA business and assets to China Telecom for a combined total of 110 billion RMB [8] and to merge the remainder of the company, in a share swap valued at USD $56.3 billion (based on Unicom's stock last traded price) on June 2, 2008, with China Netcom[9] The CDMA business was officially moved to China Telecom in early November.
In February 2000 China Unicom became incorporated in Hong Kong and was listed on the Hong Kong Stock Exchange on 22 June 2000. They are an MVNO running on Three's 2G network. They are the only provider to sell SIMs that provide native phone numbers on both sides of the border (charging slightly higher rates than local while in the mainland, but cheaper than roaming with another provider- in some cases even cheaper than a SIM from another Chinese province if being used in Shenzhen/Guangzhou area).
[edit] See also
- Communications in the People's Republic of China
- List of companies of the People's Republic of China
- Telecommunications industry in China
[edit] References
- ^ http://www.chinaunicom.com.hk/en/investor/ir_highlight/2007.html
- ^ http://finance.google.com/finance?q=SHA%3A600050
- ^ http://www.chinaunicom.com.hk/en/aboutus/about_structure.html
- ^ http://www.chinaunicom.com.hk/en/aboutus/about_profile.html
- ^ http://www.chinaunicom.com.hk/en/aboutus/about_structure.html
- ^ China Unicom Subscriber Data
- ^ China awards 3G licences
- ^ China Netcom / China Unicom Press Release about Merger
- ^ "China telecom companies agree to $56 billion merger". Houston Chronicle. http://www.chron.com/disp/story.mpl/headline/biz/5813474.html. Retrieved on 2008-06-10.
[edit] External links
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