How Did Chinese Wireless Carriers Fare In October?
October turned out to be a strong month for the Chinese wireless industry, with the three major carriers together adding close to 10 million subscribers. China Telecom (NYSE:CHA), the smallest of the three wireless players fared the best, adding 4.22 million subscribers, marking its second-best monthly performance in 2017, while market leader China Mobile (NYSE:CHL) added 3.23 million subscribers for the month. China Unicom (NYSE:CHU) added a total of 2.37 million subscribers, up from just about 500k adds in the year-ago period, driven by its improving 4G coverage and steps to transform its sales and marketing model. However, things were mixed on the 4G front, with the big-three players adding or migrating a cumulative 17.2 million subscribers to their 4G services over the month. This is down from levels of about 27 million in the year-ago period. The slowing growth is driven primarily by increasing saturation in the high-speed wireless space, as about 69% of Chinese wireless subscribers are on 4G services currently, up from about 53% in the year-ago period.
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