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China Unicom Announces IoT Alliance, RMB 10 Bln IoT Fund, 8/25/17

Telecom operator China Unicom (NYSE: CHU; 0762.HK; 600050.SH) recently announced the formation of an Internet of Things (IoT) Industry Alliance, and the creation of an RMB 10 bln IoT fund.

The members of the alliance include: China Aerospace Science & Industry Corp. (CASIC), China Electronics Technology Group Corporation (CETC), Irootech, Neusoft (600718.SH), Kuang-Chi Group, China Academy of Information and Communications Technology (CAICT), Alibaba Group (NYSE: BABA), Tencent (0700.HK), New H3C, Bosch, Haier, Nokia, Honeywell, ZTE (0763.HK; 000063.SZ), Huawei, Hanwei Electronics (300007.SZ), Lenovo (0992.HK), Chuanyi Automation (603100.SH), iSoftStone, Intel, AsiaInfo, Datang Telecom (600198.SH), Baidu (Nasdaq: BIDU), Eastone Century (300310.SZ), Qualcomm, Collihigh, SAP, Cisco, and Ericsson, among others.

China Unicom has developed deep strategic partnerships in the field of IoT to drive the growth of important businesses and industry chain consolidation, said Unicom Chairman Wang Xiaochu. The company will put all of its resources into constructing an IoT platform for the industry ecosystem.

Unicom also announced a partnership with Guangzhou Industry Investment Management to create an RMB 10 bln IoT industry fund, which will make investments in IoT, smart manufacturing, and industrial internet. The fund's first investment of RMB 1 bln will go towards applications of internet terminals and components.

China Unicom has already completed NB-IoT commercial trials in dozens of cities across China, revealed China Unicom President Lu Yimin. More than 300 cities across the country have the capability of quickly accessing NB-IoT networks. Unicom has also built experimental networks for enhanced machine type communications (eMTC) in several regions, including Beijing and Guangzhou, which meet the conditions for commercial trials.

Keywords: Guangzhou Industry Investment Management funding IoT Lu Yimin Wang Xiaochu China Unicom wireless 0762.HK 600050.SH CHU NB-IoT


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