Since the past two decades, the telecom sector is the fastest growing industry in China, accounting for 750 million subscribers in 2010. The burgeoning Chinese telecom sector is poised to become one of the world's largest telecommunication markets, generating tremendous employment opportunities. The industry experienced a metamorphosis with the introduction of 3G services coupled with the rising trend of MVAS platform introduced by the players, according to a new report by Research and Markets.
Additionally, the mobile financial services are thriving in the Chinese market, with a penetration rate of 52 per cent in 2011. The telecom sector possesses huge business potential owing to the flourishing mobile TV market in China. This is helping to generate considerable advertisement revenues for the companies such as Procter & Gamble and Unilever.
Key findings in the report include:
1. With the increasing consumer awareness, mobile banking consumers in China have grown from 10 per cent in 2010 to 25 per cent 2011. The users largely use services such as bill payments, withdrawing money from bank and receiving wages. Additionally, the usage of mobile wallet by Chinese consumers is 52 per cent more than global average.
2. Although the third-generation mobile technology users had reached 25.2 million by 2010, but still it lagged behind the target set by the government. This was due to the problems faced by the mobile carriers in deploying proper network coverage and shortage of suitable handsets supporting the technology.
3. The Chinese handset market is moving up the growth trajectory led by a rise in shipments by 17 per cent in 2010. With the advent of smartphones and 3G mobile handsets in the market, it is poised to grow rapidly in future.
Companies Mentioned:
- China Unicom,
- China Mobile Ltd.,
- China Telecom Corporation Ltd.
To view the reports full table of contents and for more information, please visit: http://www.researchandmarkets.com/research/3e000e/emerging_opportunities_in_the_chinese_telecom
