42.49 0.00 (0.00%)
After hours: 4:37PM EDT
|Bid||42.48 x 800|
|Ask||42.49 x 1100|
|Day's Range||42.39 - 42.61|
|52 Week Range||39.77 - 55.84|
|Beta (3Y Monthly)||0.64|
|PE Ratio (TTM)||9.77|
|Forward Dividend & Yield||1.95 (4.55%)|
|1y Target Est||56.59|
Two U.S. senators on Monday asked the FCC and national security agencies to review whether two Chinese state-owned telecom companies should be allowed to operate in the United States, at a time of heightened concern about possible Chinese spying. Senate Democratic Leader Charles Schumer and Senator Tom Cotton, a Republican, asked Federal Communications Commission chairman Ajit Pai to review approvals in the early 2000s that allow China Telecom and China Unicom to operate in the United States.
(Bloomberg) -- Samsung Electronics Co. and Huawei Technologies Co. took turns announcing new mobile processors at the IFA technology show in Berlin last week, and the big thing the new chips have in common is an integrated 5G modem.In a market dominated by U.S. rival Qualcomm Inc., the world’s two biggest smartphone manufacturers asserted a lead in delivering one of the keys to unlocking widespread availability of 5G devices. A system-on-chip that integrates the applications processor and a fifth-generation wireless modem significantly reduces the space and power requirements compared to existing solutions that use two separate chips.Qualcomm has such models on its 2020 road map, but this past week Samsung announced it’s planning mass production for its alternative at the end of 2019 and Huawei is moving even faster, promising to release its most advanced processor with the Mate 30 Pro smartphone on Sept. 19.The Kirin 990 5G from Huawei subsidiary HiSilicon is built at Taiwan Semiconductor Manufacturing Co. and packs more than 10.3 billion transistors into a space the size of a fingernail. It includes a graphics processor, an octa-core CPU, and the all-important 5G modem, along with dedicated neural processing units for accelerating artificial intelligence tasks.At Huawei’s Berlin launch event, consumer group Chief Executive Officer Richard Yu showed the high-end 990 5G achieving real-world download speeds on China Mobile’s network in excess of 1.7Gbps. That’s fast enough to download high-definition movies and demanding 3-D games in a matter of seconds.Samsung’s approach with its Exynos 980 is to target the mid-range. Along with 5G capabilities, this new chip integrates 802.11ax fast Wi-Fi along with Samsung’s own NPU. It won’t run apps and games quite as quickly as flagship chips, but should help the South Korean company garner a slice of the more mainstream market before Qualcomm brings out an armada of new 5G-capable chips next year.Samsung’s emphasis on this part of the mobile market was also signaled by its launch of the Galaxy A90 this month, one of the earliest examples of a mid-range device with 5G.Huawei’s Next Flagship Phone Set to Sink Without Google Apps (1)For its part, Qualcomm is promising to cover the entire range of price points and mobile device types with its 5G portfolio in 2020, however the world’s premier mobile chip designer is finding itself behind its faster-moving rivals.While Huawei is “pushing to show tech leadership,” the company has “made sacrifices in order to make an integrated SOC,” said Anshel Sag, mobile industry analyst at Moor Insights & Strategy. He cited the chip’s lack of support for mmWave -- the high-frequency 5G favored by U.S. carriers AT&T Inc. and Verizon Communications Inc. plus some European ones -- as an example. The Kirin 990 5G is fast by today’s standards and a great upgrade for Huawei’s upcoming devices in China, but Sag said it’ll find itself outpaced by rivals in 2020.The silver lining to the trade war for Qualcomm, however, is that Huawei’s Mate 30 Pro will struggle to sell in Europe so long as the Trump administration prevents it from offering Google services on new phones. Irrespective of how fast and advanced its Kirin 990 5G may be, the trade war will prevent Huawei from fully capitalizing on its capabilities and may, in fact, push the company to license the chip out to other smartphone vendors, such as Lenovo Group, which is not subject to the same sanctions.If the U.S. keeps Huawei on its blacklist, preventing it from buying American technology, the company faces further chip challenges. To develop successors to the Kirin 990, it needs to license the latest designs from SoftBank Group’s ARM, but that company discontinued work with Huawei because of the U.S. ban.(Updates with analyst comment in the third from last paragraph.)To contact the reporter on this story: Vlad Savov in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Edwin Chan at email@example.com, Nate Lanxon, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Megvii Technology Ltd. for the first time revealed the stunning growth fueled by a nation’s obsession with security.The Alibaba Group Holding Ltd.-backed startup tripled revenue to 949 million yuan ($133 million) in the first half. It generated more than 73% of those sales from AI services for major clients like government agencies, hospitals and real estate developers, the company said in a filing to the Hong Kong Stock Exchange.Seven-year-old Megvii is said to be angling to raise as much as $1 billion in its initial public offering, becoming the first of China’s fast-rising AI stars to debut and beating Sensetime Group Ltd. to the punch. Its share sale however will run up against a host of uncertainties from violent pro-democracy protests that’ve gripped Hong Kong to the Trump administration’s increasingly aggressive campaign to contain China’s tech champions.Megvii is moving forward even as other companies pump the brakes on their Hong Kong listing ambitions, wary of the turmoil. Its fundraising will further Beijing’s effort to lead the sector by 2030. That’s in turn prompting the Trump administration to sound the alarm about investment into Chinese technology.Megvii generates the bulk of its revenue from products that combine software and sensors to help government agencies and other clients enhance public safety and optimize traffic management. Sales from that business, which it labeled “city IoT solutions,” jumped 270% to 694.8 million yuan in 2019’s first six months. Megvii said it served 112 cities in China, 38% of the country’s total, as of June. It posted 5.2 billion yuan in losses for the first half, while adjusted profit reached 32.7 million yuan.‘IPOs‘ have been pretty disappointing in the past few months, but since AI is a hot category at the moment it could gain more traction,” said Mark Tanner, founder of Shanghai-based research and marketing company China Skinny.Read more: China AI Startup Files for Hong Kong IPO Despite ProtestsThe filing kicked off the formal process for an IPO, though it could be months before Megvii’s actual debut. The offering faces particular challenges. Washington has upped its rhetoric about inspection of investment into Chinese technology, which may erode the interest of U.S. money managers in the country’s AI startups.In a list of risk factors, Megvii warned of possible economic and trade restrictions similar to curbs imposed on Huawei Technologies Co. Should that happen, it would prevent the company from procuring technology, and impair its ability to develop solutions. The company stressed that it’s made sure it’s compliant with relevant restrictions, while making contingency plans to minimize the negative impact of potential curbs.Read more: Trump Aides Say He Has Power to Force Companies From China (2)Megvii also warned that sanctions on sales of American technology to Huawei may roil industries from consumer electronics to telecommunications. “Prolonged restrictions against Huawei could cause a turmoil to all such industries, which may in turn materially and adversely affect our business,” it said.Megvii also sells face-scanning systems to companies from iPhone-maker Foxconn Technology Group to Lenovo Group Ltd. and Ant Financial, the payments affiliate that supports Alibaba’s e-commerce business. The company generated 207.2 million yuan from the segment it dubs “personal IoT solutions,” or 21.8% of its revenue. Its third major business line, solutions for logistics that deploy AI-empowered robots and sensors, made up some 5% of revenue.Megvii counts Alibaba and its financial affiliate Ant Financial, Lenovo Group Ltd. and China Mobile Ltd. as strategic investors. Alibaba indirectly held 14.3% of its shares, while Ant Financial indirectly held 15.1%.Read the IPO filing here.(Updates with analyst’s comment in the fifth paragraph)To contact the reporter on this story: Lulu Yilun Chen in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Peter Elstrom at email@example.com, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Nokia (NYSE:NOK) stock saw a brief pop last month thanks to an earnings beat … but can that move in NOK stock last much longer?Source: Shutterstock The release of second-quarter financials on July 25 boosted shares from $5.18 per share up to $5.60 per share. However, since then, Nokia stock has fallen back to about $5.40 share.Increased demand for 5G technology helped improve sales 7% year-over-year. But the company continues to post net losses due to restructuring and impairment charges. With a turnaround still in progress, is NOK worth a buy today?InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhile the company has positive catalysts in the works, Nokia has missed the mark many times in the past. Let's take a closer look, and see if there is additional upside for Nokia stock. NOK Earnings: A Deeper LookThe company's financials are clouded by goodwill impairment and amortization charges. This is primarily related to the company's 2016 merger with Alcatel-Lucent. There are also restructuring charges related to their cost savings plan. With this in mind, let's take a look at the company's adjusted earnings. Adjusted (non-IFRS) operating profits exclude these charges. This provides a clearer picture of Nokia's operating performance. Non-IFRS operating profits were up 35% year-over-year. Adjusted earnings-per-share (EPS) of 0.05 euros were up 67% from the prior year's quarter. * 7 Winning High-Yield Dividend Stocks With Payouts Over 5% With annual cost savings of $700 million euros anticipated by 2020, the company has runway to improve operating margins. In terms of organic growth, the 5G revolution provides plenty of gas to grow revenues. Nokia's full-year outlook projects adjusted EPS of 0.25-0.29 euros. The company anticipates additional earnings growth in 2020, with projected adjusted EPS of 0.37-0.42 euros/share for next year.As InvestorPlace contributor James Brumley pointed out last month, Nokia has been landing 5G contracts left and right. NOK has signed over 42 end users, including China Mobile (NYSE:CHL), China Unicom (NYSE:CHU) and Sprint (NYSE:S). But the company still needs to execute. This presents a material risk for NOK stock. The company has set up high expectations. If they fail to deliver, new opportunities could dry up, sending NOK shares lower.There are additional risks to consider. As 5G reaches critical mass, competition will likely heat up. The U.S.-China trade war could accelerate, negatively impacting Nokia's business in both countries. But what does this mean for investors entering Nokia stock today? Can they enter the stock at a discount, or will they have to pay a premium? Let's take a look at the valuation of NOK stock, and see how it stacks up to peers. Nokia's ValuationNOK stock currently trades at a trailing twelve month Enterprise Value/EBITDA (EV/EBITDA) ratio of 10.1. This is a slight discount to competitors such as Cisco (NASDAQ:CSCO), which trades at an EV/EBITDA ratio of 13.8. Nokia stock also trades at a discount other telecom equipment manufacturers. LM Ericsson (NASDAQ:ERIC), for example, trades at an EV/EBITDA ratio of 11.6; Motorola Solutions (NYSE:MSI) trades at an EV/EBITDA ratio of 16.7.It is important to note that NOK has lower EBITDA margins. The company's EBITDA margins are 11.4%, which pales in comparison to both Cisco and Motorola Solutions. Cisco has EBITDA margins of 30.8%. Motorola Solutions has EBITDA margins of 26.2%. However, the company's operating margins are in line with LM Ericsson, which has an EBITDA margin of 9.8%.But is this discount warranted?Nokia has dropped the ball many times in the past. This under-performance has burned contrarian investors trying to call a bottom. Is the 5G revolution Nokia's "this time it's different" moment? The company faces many risks in executing the 5G rollout. But much of this negative sentiment is priced into shares, as seen by the discount to peers. This means investors could see tremendous upside if the company's 5G sales meet expectations.Nokia stock presents a high risk/high return opportunity for investors. But does this make the stock a screaming buy? While the company's future prospects are not set in stone, the positive catalysts in play make this opportunity a strong buy for long-term investors. * 7 Stocks the Insiders Are Buying on Sale Bottom Line on NOK StockNokia releases third-quarter earnings in late October. This gives investors several months to enter a position in NOK stock before additional information makes the bull case (or bear case) for shares. NOK trades at a discount to peers. If they can execute 5G successfully, the company's fortunes could materially improve. This would be a shot in the arm for Nokia stock.As it stands now, what's the play with NOK?In the short-term, investors may be not see upside. Shares will likely trade sideways, pending new developments on the 5G front. However, long-term, Nokia may be the right contrarian play in the telecom space. For investors looking for speculative opportunities in large-cap stocks, Nokia stock may just be a buy.As of this writing, Thomas Neil did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Internet Stocks Getting Hammered * 6 Big Growth ETFs to Buy For the Second Half of 2019 * 5 Cheap Stocks to Buy Now That the Fed Cut Rates The post Will the 5G Revolution Bring Upside to Nokia Stock? appeared first on InvestorPlace.
Ever since Apple (NASDAQ:AAPL) launched its now-iconic iPhone, Nokia (NYSE:NOK) has been in crisis mode. Of course, what has consistently dragged on the company is that it has never really left that mode. Nokia stock peaked around the $40 level in 2007. Today, you can pick up shares for a little over $5. Source: Shutterstock Of course, with such a low price point, this attracts contrarian buyers. After all, we're talking about Nokia stock, not some nameless, faceless upstart tooling around in the pink sheets. True, the Nokia brand isn't anywhere near as relevant as it once was. However, the Finnish telecom firm very much has clout.This is evident through the company's many wheeling and dealings. Recently, NOK announced that China Unicom (NYSE:CHU) selected Nokia's solution for the Chinese telecom's 4G and 5G networks . Significantly, China Unicom has a very ambitious target to deliver 5G wireless connectivity within this year.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip Plus, Nokia stock benefits from geopolitical tailwinds. Earlier this year, I wrote that our own telecom giant AT&T (NYSE:T) has "critical value beyond the print."Primarily, what underlines the U.S.-China trade war is the two sides' rush to dominate next-generation technologies. Thus, companies like AT&T represent more than just capitalistic concerns; rather, they facilitate the pathway for these technologies to advance American interests.Second, the trade war has temporarily erased Huawei - the largest supplier of mobile network technology - from the picture. That gives an obvious opportunity for NOK, and by logical deduction, Nokia stock.And as our own James Brumley pointed out, Nokia has struck with multiple awarded contracts. But is that enough for NOK stock? NOK Stock and the FundamentalsAdmittedly, when I saw Brumley's contribution towards Nokia stock, I only read the headlines. But it was enough of a catchy one that I decided to look at the price chart before reading what my colleague had to say.Again, at $5, NOK stock is a very tempting mistress. Not only is it still a relatively well-known brand, but it's also levered to an extremely viable business. Everyone that's anyone is racing for 5G dominance. Moreover, 5G has serious geopolitical and even military implications.Such an environment suggests that the next-gen telecom network will provide robust revenue channels. That's especially true for Nokia if it can claim first-to-market advantages in specific regions or technical subsegments.And to Brumley's argument, Nokia is securing contracts with big names, such as China Mobile (NYSE:CHL), Sprint (NYSE:S), T-Mobile (NASDAQ:TMUS) and BT Group (NYSE:BT). Obviously, these are big tailwinds for NOK stock.But what isn't so appealing is trading sentiment. Specifically, Nokia has no discernible correlation with revenue trends. For instance, from the first quarter of 2013 through Q1 2019, Nokia shares and revenue had a correlation coefficient of -20%. Between Q1 2016 through Q1 2019, the correlation inversely strengthened to 34%. However, this is still not a statistically significant relationship. Click to EnlargeWhy does this matter? Because you really want your core investments to make rational sense. In other words, if Nokia's management says they're on a recovery path, I don't expect NOK stock to jump just on that alone. However, if Nokia proved its point through sales increases, I expect shares to steadily tick higher.Longer-term, that hasn't happened. For example, in Q4 2015, Nokia rang up only $3.95 billion in sales. Three years later, the company delivered revenue of $7.84 billion. Still, shares dropped on average from $6.31 to $5.57. Nokia Stock Is an Interpretive ArtworkIn my last article about NOK stock, I suggested that it was nothing more than a short-term trade. Largely, I feel the same way because of the lack of rationality in the market.However, I concede that this lack of rationality also presents an opportunity. To quote Brumley, Nokia "has gotten little to no credit for its newly-won contracts, as investors struggle to get past the company's disappointing first-quarter results."Perhaps the reason why Nokia stock has little correlation with the fundamentals is that most folks simply don't recognize the opportunity. Therefore, if you take the risk now, you potentially have a front-row seat to a massive recovery.But it could also mean that the markets have reason to doubt Nokia. Brumley even conceded that Q2 2019 numbers may not look great.And let's remind ourselves why Q1 figures were so disappointing: Nokia failed to supply 5G telecom equipment in time. Stated differently, if you buy Nokia stock, you're doing so on technical potential, not on proven fundamentals.As of this writing, Josh Enomoto is long T stock. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dependable Dividend Stocks to Buy * 10 Stocks Driving the Market to All-Time Highs (And Why) * 7 Short Squeeze Stocks With Big Upside Potential The post Tempting as It May Be, Nokia Stock Isn't Going Anywhere appeared first on InvestorPlace.
Nokia (NYSE:NOK) stock continues to struggle. Amid its most recent earnings disappointment, Nokia stock has fallen back toward the $5 per share level.Source: Shutterstock This price action merely keeps Nokia stock in the range in which it has traded for more than two years. However, the recent price action, as well as political factors, help to make it a more appealing equity for income investors.Nokia is no stranger to transformation. Nokia lead the market in cell phone sales before Apple's (NASDAQ:AAPL) iPhone made its phones obsolete. Also, the company began as a pulp mill in the 19th century and even made toilet paper as late as the 1960s. Given that change, the move from cell phones to 5G telecom equipment does not seem that dramatic.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHowever, making the transition to a new industry and translating that into stock gains remain two different propositions. Here, NOK has stumbled amid stagnant stock growth and a huge earnings miss that has taken Nokia stock back to the $5 per share range. * 7 Retail Stocks to Buy That Are Down in 2019 In terms of stock growth, I think my colleague Luke Lango correctly pegged NOK as a "show me proposition." It still trades more than 80% below levels Nokia saw in its glory days before smartphones hit the market. Moreover, despite leading the way in 5G equipment, it has generated anemic revenue growth. Decline Boosted Nokia's payoutThat said, Will Ashworth has also pointed to the bright dividend prospects. The current 29-cent per share dividend yields over 5.6% as of the time of this writing. This greatly exceeds the payouts of peers such as Cisco (NASDAQ:CSCO) and Ericsson (NASDAQ:ERIC), both of whom have seen higher stock price growth than NOK over the last two years.I see a case for income-oriented investors buying NOK at these levels. The stock has traded in a range for the last 2.5 years. Earnings growth will provide the needed cash to maintain the payout. Also, while it does not sell at the absolute low point of this approximate $4 per share to $7 per share range, I see only limited downside. Nokia and the Trade WarMoreover, to Lango's point, NOK could get its chance to "show me" thanks to the U.S.-China trade war. Its domicile in Finland may work to the company's advantage. China Mobile (NYSE:CHL) had signed contracts with both Nokia and Ericsson for 5G equipment before negotiators announced a recent truce. Despite the dominance of China-based Huawei In that country, this shows that Chinese companies still want to establish relationships with key Western 5G vendors.Also, I think the on-again, off-again restrictions on Huawei could still help bring more business to NOK. The tenuous nature of the sanctions keeps Huawei under a cloud of uncertainty. Despite this change of heart, the Trump Administration could re-impose sanctions on Huawei at any time should trade talks break down.Communications firms can avoid this risk by choosing a vendor like Nokia. Although some companies will choose Ericsson, having one less competitor still helps NOK. While it still has much to prove, NOK appears well-positioned for dividend investors from both technological and political perspectives. The Bottom Line on Nokia StockNOK stock appears well-positioned to deliver returns for investors thanks to its dividend and the current political climate. Yes, other equities such as Cisco and Ericsson have delivered higher stock price growth in recent years.Still, the latest drop in NOK to the $5 per share range has taken its dividend yield above 5.6%. At nearly triple the S&P 500 average, this makes Nokia stock attractive to investors who need to generate cash.Furthermore, its base of operation in Finland keeps the company at arms-length from the U.S.-China trade war. Not only can it attract business in China, but it should also win clients in other countries from those fearful that Trump will again impose sanctions on Huawei.With a generous cash return now and possible stock appreciation coming later, NOK can serve investors well on two fronts as it helps to bolster the world's move into 5G.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy That Are Down in 2019 * 7 of the Best SPDR ETFs -- Besides SPY and GLD * 5 Dividend Stocks to Buy From Across the Globe The post Now Definitely Is Not the Time to Give up on Nokia Stock appeared first on InvestorPlace.
HONG KONG , June 26, 2019 /PRNewswire/ -- The Hong Kong SAR government has stepped up its Smart City development efforts in recent years. Aligned with the increasing trends to leverage shared data, China ...
(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.The U.S. blacklisting of Huawei Technologies Co. and other top Chinese tech companies is making it trickier for some mobile industry professionals to get down to business.The June 26-28 Mobile World Congress Shanghai, China’s largest forum for the mobile industry, is scheduled to start amid almost daily salvos from the Trump administration aimed at Huawei and other technology companies in the world’s largest mobile phone market.The Trump administration’s blacklisting of Huawei has dominated global industry discussions in past months, as it threatens to upend supply chains and disrupt the global roll out of fifth-generation technology -- an infrastructure spending spree worth hundreds of billions of dollars. U.S.-Chinese tensions are escalating just as carriers around the world such as China Mobile Ltd. and China Telecom Corp. -- set as keynote speakers at MWC Shanghai -- choose equipment vendors for the 5G networks expected to support technologies from remote surgery to automated factories and driverless cars.“It’s quite a sensitive moment,’’ said William Chou, managing partner of Deloitte Private in Beijing, and a scheduled speaker at the conference’s key Global Device Summit session. He said it’s unlikely Huawei and ZTE will want to show off all their latest devices at MWC Shanghai given how the perception that they are ahead of global rivals has fueled tension.The focus will instead be on 5G applications and how the vastness of China’s market is likely to drive development, Chou said.“We really need to understand the market, putting aside the political agenda,” said Chou. “Business is still business, and particularly in this telco area -- telcos and device manufacturers -- they all need to work together.”The Shanghai event is modeled after a bigger annual industry show in Barcelona. This year’s gathering in Spain was also squarely focused on Huawei and China, a nod to the country’s rising global importance and to how the Washington-Beijing dispute is creasing the business environment.“The danger for international companies, especially American companies, is that they are ceding these opportunities to influence the marketplace to non-American companies, which can have knock-on consequences that could be far greater than some had anticipated,’’ said Jake Saunders, a vice president at ABI Research, and a scheduled speaker and moderator at the conference.A two-hour flight away in Osaka, Huawei is also likely to be on the agenda for a meeting between the presidents of China and the U.S. at the G-20 summit.Last week, President Donald Trump said he had a “very good telephone conversation” with President Xi Jinping and said talks will resume before the two meet at the June 28-29 summit. It’s not clear if Huawei was part of their call, but it’s an issue Trump himself has said could be on the table.Trump last year reversed a similar ban on Huawei rival ZTE at Xi’s request. Getting that kind of result now would be significant for Xi because the company is exponentially more important than ZTE, said Samm Sacks, cybersecurity policy and China digital economy fellow at New America.People familiar with the matter on Tuesday said China is considering adding U.S.-based delivery firm FedEx Corp. to its list of so-called unreliable entities. FedEx drew the ire of Chinese officials after Huawei said that documents it asked to be shipped from Japan to China were instead diverted to the U.S. without authorization.What Bloomberg Intelligence says:“China’s early, widespread 5G deployment would entitle it to the spoils of first-mover advantage, including an edge in setting global standards. An aggressive infrastructure and network build-out will be required for a swift rollout, fueling demand for telecom site resources and equipment.”--Denise Wong, BI Infrastructure analyst--Click here for the researchHuawei itself will be out in force at the Shanghai show, based on the lineup at the MWC website this week. Deputy Chairman Ken Hu is scheduled to deliver a keynote and the speaker’s list includes 17 names from the company, including Chaobin Yang, president of Huawei’s 5G product line; Kevin Ho, president of handsets, and Hua Liang, chairman of the Huawei board.As delegates and speakers head to Shanghai, Huawei is said to be preparing for smartphone shipments outside China to drop by between 40 million and 60 million this year. That outlook highlights the uncertainty gripping the company, a Chinese national champion accused by the U.S. of aiding Beijing in espionage -- something Huawei has repeatedly denied.Still, the Shanghai show is on track as planned to draw more than 60,000 attendees from over 110 countries and territories along with about 550 companies, GSMA, the industry group that produces the event, said in an email.Stockholm-based Ericsson AB, a key 5G equipment supplier, is scheduled to field 11 speakers at the event, including Chief Executive Officer Borje Ekholm and Chief Technology Officer Erik Ekudden. Nokia Oyj, another top gear manufacturer, has eight speakers listed on the program website.(Updates with possibility FedEx would be added to China’s list of unreliable entities in 11th paragraph. The date of the show was corrected in a previous version of this story.)To contact the reporter on this story: Dave McCombs in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Sam Nagarajan at email@example.com, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
China's largest telecommunications operator China Mobile said on Tuesday it will set up a 30 billion yuan ($4.36 billion) 5G industry fund and has already raised the first installment of 7-10 billion yuan. China Mobile Chairman Yang Jie made the announcement at a press conference in Shanghai, according to a transcript of his speech provided by the company. Yang also said China Mobile will invest 3 billion yuan into developing 5G content such as ultra-high definition videos and games.
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China Mobile Limited (CHL) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front.
Warning! GuruFocus has detected 2 Warning Sign with CHL. Thus, the following stocks have price-earnings ratios of less than 11.74 as of May 20 ( the price-earnings ratio is the inverse of the earnings yield) . Wall Street issued an overweight recommendation rating for all of them, suggesting their share price will head higher in the coming weeks.
China stock funds tumbled Monday as China upped the ante in the ongoing U.S.-China trade war by slapping tariffs on $60 billion in U.S. goods.
WASHINGTON/HONG KONG (Reuters) - China urged Washington on Friday to stop putting "unreasonable pressure" on Chinese companies after U.S. regulators voted to deny market access to China Mobile Ltd and suggested they could revoke approvals given to two other Chinese carriers. The Federal Communications Commission voted unanimously on Thursday to deny an eight-year long bid from China Mobile, the largest Chinese telecom carrier, to provide services in the United States, citing risks that the Chinese government could use the approval to conduct espionage against the U.S. government.
The FCC voted 5-0 to deny China Mobile’s request to enter the U.S. market, after being urged to do so by the Trump administration. FCC Chairman Ajit Pai after the vote said the agency is “looking at” authorizations granted earlier to China Telecom and China Unicom.