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Telestone Announces Its Business Outlook with Chinese Telecom Restructuring Effects
Jul 01, 2008 (08:07 AM EDT)
BEIJING, July 1 /Xinhua-PRNewswire-FirstCall/ -- Telestone Technologies Corporation Ltd. (''Telestone'' or the '' Company'') , a leading developer and provider of wireless communication coverage solutions based in People's Republic of China, today announced its business outlook with Chinese Telecom Restructuring effects.
On May 24th, 2008, China announced a restructuring plan for the country's telecom operators. The plan encourages China Telecom the fixed-line operator to buy China Unicom's Code-Division Multiple Access(CDMA) network. The remainders of China Unicom, mainly its GSM network, are planned to be merged with China Netcom, according to the statement jointly issued by the Ministry of Industry and Information Technology, the National Development and Reform Commission and the Ministry of Finance, PRC.
China Telecom restructuring will change the competitive environment, and it will force Telecom operators to expand network coverage and improve network quality. Through the restructuring, China Telecom obtains a mobile network, therefore, it will increase network expenditure significantly. And the capital that China Unicom gets from the sale of the CDMA work can be used to upgrade its GSM. The increasing expenditure in networks will provide a huge opportunity to Wireless equipment suppliers.
Mr. Han Daqing, Chairman and CEO of Telestone, commented: ''I agree with the opinion that Telecom Restructuring will generate more networks, which will bring more opportunities for wireless equipment manufactures. As a leading wireless coverage equipment and service provider, Telestone will benefit a lot from the increasing expenditure in the China wireless coverage market.''
About Telestone Technologies Corporation
Telestone provides wireless communications coverage solutions primarily in the PRC. These solutions include products such as repeaters, antennas and radio accessories. Telestone also provides services that include project design, project management, installation, maintenance and other after-sales services. Telestone currently has approximately 800 employees. For more information please visit http://www.telestone.com .
For further information please contact: Telestone Technologies Corporation Ltd. Fang Cui Tel: +86-10-8367-0088 x1202 Email: firstname.lastname@example.org Nick Lee Secretary of The Board Tel: +86-10-8367-0088 x1002 Email: email@example.com
Safe Harbor Statement
Statements about the Company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward-looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The Company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the Company undertakes no obligation to update forward-looking statements.
CONTACT: Fang Cui, +86-10-8367-0088 x1202, or firstname.lastname@example.org; NickLee, Secretary of The Board, +86-10-8367-0088 x1002, or, both of Telestone Technologies Corporation Ltd.
Web site: http://www.telestone.com/