摩根斯坦利:不看好中国移动的5G和IoT

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对于中国移动而言，这一周并非最好的一周。

作为全球最大的移动通信运营商，中国移动在摩根斯坦利分析师的眼中被降级。

而另一家市场研究机构Jefferies的分析师Edison Lee称，中国移动在IoT（物联网）标准方面面临左右为难的困境。

摩根斯坦利分析师Barrons称，摩根斯坦利认为，中国移动目前的战略有3大问题：5G投资周期、更高的运营成本、激烈（市场）竞争影响收益。

Barrons甚至说，对于中国移动而言，通往5G之路是一个“痛苦的旅程”。

此外，《南华早报》也发布报道认为，在部署IoT网络方面，中国移动可能会被中国联通和中国电信争相赶上。

以下是telecom tech news的报道原文：

It has not been the best week for China Mobile. The operator, which is the largest global telco in terms of domestic subscribers, has been downgraded in the eyes of analysts Morgan Stanley, while another analyst, Edison Lee at Jefferies, said the company faces a ‘dilemma’ in terms of Internet of Things (IoT) standards.

According to Barrons, Morgan Stanley finds three issues with China Mobile’s current strategy; the 5G spending cycle, higher operating expenses, and how competition effects profits. The analyst called the path to 5G a painful journey for China Mobile, as well as removing the company’s stock from its Asia Pacific excluding Japan telecoms portfolio.

Elsewhere, a report from the South China Morning Post has found that the operator ‘may be scrambling to catch up’ with its two competitors, China Unicom and China Telecom, in deploying IoT architecture.

China’s Ministry of Industry and Information Technology (MIIT) recently announced the country would need to accelerate its implementation of NB-IoT (narrow band IoT) technologies, building 1.5 million base stations by the end of 2020. As this publication previously reported, operators around the world are starting to dip their toes in the water with rollouts, including Deutsche Telekom and Vodafone New Zealand.

Edison Lee, equity analyst at Jefferies, noted that China Mobile could either wait for the MIIT to give it a licence to redevelop its GSM 2G network for 4G or upgrade it itself, while another issue is that its 4G network is based on TD-LTE (time division long term evolution), as opposed to FDD-LTE (frequency division duplex) preferred by Unicom and China Telecom.

Shares in the company, which were at 86.95 on June 1, slumped to a low of 80.10 on July 6 and at the time of publication sat at 80.85.