China Telecom Rises Most in 5 Months on iPhone Sale-Plan Report
China Telecom Corp., the smallest of the country’s three mobile-phone carriers, rose the most in five months in Hong Kong trading after a report said it may start selling Apple Inc. (AAPL)’s iPhone this year.
The carrier rose as much as 5.5 percent, the biggest intraday increase since Jan. 27, and traded at HK$4.91, up 4.7 percent, as of the midday trading break. That compared with a 1 percent gain in Hong Kong’s benchmark Hang Seng Index.
China Telecom is expected to introduce the iPhone in November, Reuters reported today, citing a person it didn’t identify. The plan depends on an agreement with Apple, the report said.
Beijing-based China Telecom, which is also China’s biggest fixed-line phone carrier, is in talks with Apple to offer a CDMA version of the iPhone, Chief Executive Officer Wang Xiaochu said in May. The discussions are ongoing and there is “no timetable” for selling the product, Ivan Wong, an investor relations manager at China Telecom in Hong Kong, said today in a phone interview.
China Unicom (Hong Kong) Ltd. is the only Chinese phone carrier that now offers the iPhone, Apple’s best-selling product. China Mobile Ltd. (941), the world’s largest mobile-phone company by users, may get an iPhone for its fourth-generation TD-LTE network, which is expected to be rolled out next year, China Mobile Chairman Wang Jianzhou said in May.
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