Chinese telephone companies expected to spend $24 billion to upgrade mobile networks to 3G
From Keralanext: China to go on $24 bln 3G spending spree
"Chinese telephone companies are officially expected to spend an estimated $24 billion to upgrade their mobile networks for data-rich applications in what could become a bonanza for foreign and domestic equipment makers. "
"The estimated 200 billion in spending dwarfs most of the numbers to emerge so far, including a forecast by China's top mobile carrier, China Mobile of $7.25 billion in spending in the first two to three years of 3G roll-out."
"China has spent billions of dollars on its current networks, providing a rare bright spot at the height of the recent telecoms bust for companies like Motorola Inc. , Nortel Networks , Ericsson , Nokia and Lucent Technologies Inc. . But in the upcoming round of 3G spending, the foreign giants will also face competition from a field of hungry domestic suppliers led by Huawei Technologies and ZTE Corp., the nation's top two players."