Rumor: China Telecom to Launch iPhone 5 in Mid-December
Southern Metropolitan News, 11/28/12
China Telecom (NYSE: CHA; 0728.HK) will release the iPhone 5 in mid-December, according to a source within the operator, available for RMB 5,780 with a two-year contract with greater subsidies than the previously-released iPhone 4S, which received up to 60% subsidies.
According to the source, China Telecom officially began taking telephone pre-orders for the iPhone 5 on November 20. Guangdong Telecom has begun accepting pre-orders via home electronics and appliance retailers Gome (0493.HK) and Suning (002024.SZ), with its total reservations since November 20 reaching 5,000.
"China Telecom suffered significant losses due to the delayed release of the iPhone 4S," said the source. "The opportunity can't be squandered again. China Telecom's provincial subsidiaries have already completed iPhone 5 sales, training, and accessory preparations. The company aims to sell 15,000 units on the first day and 100,000 the first month."
China Unicom (NYSE: CHU; 0762.HK; 600050.SH) has remained relatively inactive compared to China Telecom, as its provincial subsidiaries have yet to begin accepting pre-orders. China Unicom chairman Chang Xiaobing said this month that the mainland China release date for the iPhone 5 remains uncertain, primarily because the handset has yet to receive network access permit approval from China's Ministry of Industry and Information Technology (MIIT).
Gome.com.cn launched a dedicated webpage for sales of both the China Telecom and China Unicom versions of the iPhone 5 on November 24. According to the page, both versions with 16GB are priced at RMB 5,399, RMB 400 more than the initial price of the iPhone 4S, RMB 4,999. To date, neither operator's version of the smartphone has shipped.
Editor's Note: For more background on this topic, please see "China Telecom to Start iPhone 5 Pre-Orders November 20" MD 11/15/12 issue and "China Unicom Resumes Free Nano-SIM Card Swap" MD 11/26/12 issue.
Keywords: Chang Xiaobing Guangdong Telecom China Telecom China Unicom iPhone handset smartphone wireless network access permit MIIT 0728.HK 0762.HK 600050.SH CHA CHU pricing subsidy
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