China’s Cabinet said Wednesday it has approved licenses for next-generation mobile phone services in a long-delayed step that is expected to trigger billions of dollars in equipment sales. China is one of the last major markets to roll out third-generation, or 3G, services and the step comes at a critical time for global equipment suppliers as demand elsewhere weakens amid economic turmoil.
The government will issue licenses for two global 3G standards and a homegrown Chinese standard, the Cabinet said on its Web site. // more
