Navigate this market better. Subscribe for FREE stock alerts and information.

Friday, January 10, 2014

FEATURE-China's ambitious handset makers face tough sell in U.S., (NYSE: T)

LG Electronics executive Frank Lee bounded onto a Las Vegas stage this week to show off a new phone for the U.S. market, the 6-inch G-Flex, which boasts a curved screen. Two hours later, in another room at the same hotel, Huawei Technologies' Richard Yu unveiled the razor-thin Ascend Mate II, bragging it had a battery life of nearly two days.There was one key difference between the two product launches at the Consumer Electronics Show: the South Korean G-Flex will be sold through three U.S. carriers - T-Mobile U.S. Inc, AT&T Inc and Sprint Corp. The Chinese Ascend Mate II? None, at least not yet.In two years, China's three biggest handset makers - Huawei, ZTE Corp and Lenovo Group Ltd - have vaulted into the top ranks of global smartphone charts, helped in part by their huge domestic market and spurring talk of a new force in the smartphone wars.Chinese companies took up more showspace at CES than ever before, eager to tout their products to the world's largest electronics market. Still, analysts said it will likely take years for the Chinese to make headway in the United States, where arguably the only Asian brand to have succeeded is Samsung Electronics Co Ltd.

AT&T Inc. (AT&T) is a holding company and a provider of telecommunications services in the United States and worldwide. Shares of T traded higher by 0.24% or $0.08/share to $33.62. In the past year, the shares have traded as low as $32.76 and as high as $39.00. On average, 22276300 shares of T exchange hands on a given day and today's volume is recorded at 25376980.