China Telecommunications Report Q4 2017
|出版日期||內容資訊||英文 79 Pages
BMI View: We made modest forecast adjustments in Q217 but retain a generally positive outlook for the Chinese telecommunications market. The ICT sector is integral to China's 13th five-year plan (2016-2020) and will stimulate growth in other industries. While the plan lays out ambitious broadband targets, profitability in the telecoms sector will be largely undermined by the state-owned operators' need to compress prices to meet them. On the other hand, local IT and consumer electronics companies will gain from a higher budget for R&D (2.1% of GDP to 2.5%) and reduced reliance on imports for high-tech inputs. Operator strategies will continue to chime with the government's directive to drive uptake of wireline broadband and machine-to-machine (M2M) connections. As the prices of basic services will be compressed, operators will derive profit growth by developing and bundling value-added services with basic connectivity.
The Chinese mobile market lost over 20.0mn subscribers in Q116, posting strong negative growth in its first quarter of declines. The market recovered well, adding over 37.6mn subscribers in the last nine months of 2016 and an additional 16.5mn subscribers in Q117 alone, suggesting organic growth potential.