China Unicom


China Unicom
China Unicom (Hong Kong) Limited
Type Public company
SEHK0762
SSE: 600050
NYSECHU
Industry Telecommunication
Founded 1994
Headquarters Beijing
Area served Mainland China
Key people Chairman
Chang Xiaobing
President
Lu Yimin
CFO
Tong Jilu
Products Voice services
Mobile services
Internet Broadband
Revenue increase US$ 23.2 billion (2010)[1]
Net income increase US$ 1.6 billion (2010)[1]
Employees 214,400 (2010)[1]
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), (SEHK0762 SSE: 600050 NYSECHU) is a Chinese state-owned telecommunications operator in the People's Republic of China.

Contents

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 mobile network, 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.[2] 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.[3]

In July 2009, China Unicom signed a $700 million deal with infrastructure vendor Ericsson to upgrade the company's GSM network.

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 [4] 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.[5] The CDMA business was officially moved to China Telecom in early November. It also continues the former China Netcom's and the former China Telecom's PHS mobile phone businesses.

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).

Joint Investment With Telefonica

As of January 2011, China Unicom and Telefonica strengthened their strategic alliance and agreed on a new mutual investment. The companies agreed to deepen their cooperation in areas such as procurement, mobile service platforms, service to MNC's wholesale carriers, roaming, technology, among others, where both companies have been cooperating since the signature of their strategic alliance agreement.[6]

Stock holding

China Unicom (BVI) Limited effectively holds 40.92% of the company, and China Netcom Group (BVI) Limited holds 29.49%,[7]

In 2009, China UniCom agreed a $1Bn cross-holding with Spanish-based operator Telefonica. In January 2011, the two partners agreed a further $500M tie-up in each other, which following completion in late 2011, Telefonica will hold a 9.7% stake in China UniCom, while China Unicom will own 1.4% of the Spanish firm.[8]

The residual shares are traded on the Shanghai, Hong Kong and the New York stock exchanges.[9] Both majority shareholders are state controlled enterprises.[7]

On January 2011 China Unicom and Telefónica S.L strengthened their strategic partnership through a new share exchange.[10]

See also

References

External links


Wikimedia Foundation. 2010.

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