BNP: Mainland MP producers forming Union beneficial for Nanjing Panda

As for 17 China mainland mobile phones producers formed a Union to increase the market share, BNP thought it was beneficial for Nanjing Panda Electronics (0553) in long term and maintained its rating at ˇ§lead the marketˇ¨ as well as setting its target price at HK$4.3 each. 

At the present, the market share of China mainland mobile phones producers in China mainland was only 9% and the rest 92% was controlled by foreign-funded companies, such as Nikia, Motorola and Ericsson, while Nanjing Panda Electronics (0553) cooperated with Ericsson in producing mobile phones at present and it represented 35% shareholding of the joint venture. 

BNP said Legend Holdings (0992) was considering marching into China mobile phones market and the news mentioned above was beneficial to TCL International Holdings (1070), which controlled few mobile phones businesses in China mainland.

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