Mobile Internet: Looking for "Black pearl" under trend

The 2011 Mobile Internet Investment Critical point has come, explosive growth is imminent. The mobile Internet industry will enter a new era of rapid development from five aspects of mobile internet users, 3G users, smartphone number, data traffic and mobile application market size. The future of data traffic will force the operators to adopt various means to deal with, 3g+wlan the trend of the wireless city strategy; Faced with the exhaustion of IPV4 address, IPV6 network equipment deployment will be rapidly launched; Mobile application Service market is now blossoming, innovative practitioners "move Change Life"　　All kinds of myths; in the Twelve-Five plan, the government will increase broadband investment, but how operators to achieve the government's investment planning, will become the market exciting point. The advent of the Three Kingdoms of mobile internet has formed the Thing of operators, traditional Internet enterprises and terminal manufacturers. The rapid development of the future industry will lead to profound changes in telecommunications, the entire industry will be integrated and transformation. The value curve is no longer solely in favour of operators, and the future dominance is chasing. To the user-centric competitive trend, the mobile interconnection to open and cooperation.　　The future value creation will deduce the development trend of "infrastructure-platform-application", more "differentiation", "herding effect" and "Long Tail theory" will run through the development trend of the whole industry. In the early days of the mobile internet feast, infrastructure-oriented investment opportunities remained higher than "platform" and "application", so we built on this to look for structured investment opportunities in the future, such as the number of users, smartphones, network coverage and other trends. We believe that the 2011 mobile Internet has four major investment themes: 3G and full business competition under the wireless Coverage and network optimization theme, the high growth of smartphones led by the industry chain theme, national strategy and operator-driven WLAN and IPV6 network equipment and services theme,　　To break through the critical diffusion of innovative mobile application Services segment Market body. We follow the "segment industry leader", "market segments high growth determination", "core competitive advantage" and "market niche" four principles to choose the portfolio.　　Recommended separately: Mobile network optimization and wireless coverage combination (three-dimensional communication, Century Ding Li), smart phone combination (letter-dimensional communication, shun electronics), network Equipment and service portfolio (Star network Ruijie, Guomai Technology); Mobile application combination (dimension information, NavInfo, hkust). (GF Securities)