10 Percent of China’s Mobile Phone Customers are 3G Users
China (NYSE:FXI) continues to see growth in its mobile phone industry according to recent August numbers. China’s IT ministry reported on Wednesday the country had over 940 million mobile subscribers at the end of August, representing a 14 percent year over year increase.
The numbers also disclosed that 10.01 percent of China’s mobile phone customers are 3G users — that’s 94.1 million people. Chinese subscribers are also starting to like to text. In August, China sent 73.29 billion short messages or an average of 2.53 short messages a day per phone.
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Look for Chinese telecom companies and chipmakers to benefit from the subscriber growth: China Mobile Limited (NYSE:CHL), China Unicom Limited (NYSE:CHU), China Telecom Corporation Limited (NYSE:CHA), Qualcomm (NASDAQ:QCOM) and Marvell Technology Group Ltd (NASDAQ:MRVL).
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