88% Growth Seen in China's 3G Subscriber Base This year
There has been a massive spike in China's 3G subscriber growth this year. In fact, since the start of 2012, China's 3G customer base has nearly doubled in size.
By November 2012, 3G subscribers at the three largest Chinese carriers (China Telecom, China Mobile, and China Unicom) had climbed 88 percent from 2011, reaching 221.6 million (approximately) as of this writing.
But Topeka Capital's analyst Brian White, who released the data in a new report this week, says that 3G subscribers still represent just 20.1% of China's wireless subscribers. In other words, there's ample room for improvement in this already swelling market.
Although projections can be hit or miss in this field, one of the biggest anticipated winners in China's burgeoning mobile community in 2013 is Apple.
"China Mobile is the only major carrier in China that does not have a relationship with Apple to sell the iPhone," White said in a note to investors. "We still expect Apple and China Mobile to announce an agreement for the iPhone in 2013."
Not surprisingly for the optimistic Apple watcher, White is maintaining his Buy rating and price target of AAPL at $1,111.
Source: Street Insider