China Mobile Surges on Planned $2 Billion Cut in Subsidy
August 15, 2014
China Mobile rose to the highest in six years after saying it will cut $2 billion from the subsidies that help consumers in the world’s largest market pay for smartphones from Apple and Samsung Electronics.
“With fewer subsidies, consumers may opt for cheaper devices made by local producers in favor of those sold by Apple and Samsung,” Bloomberg Intelligence analysts John Butler and Matthew Kanterman said.
China Mobile Surges on Planned $2 Billion Cut in Subsidy Why it’s about to get tougher for Apple to grow iPhone sales in China (GigaOm)