China Telecom (NYSE:CHA), China Unicom (NYSE:CHU) and Apple (Nasdaq:AAPL) iPhone

Continuing to comment on their China tech tour, Ticonderoga Securities focuses on the prospects for China Telecom (NYSE:CHA) and China Unicom (NYSE:CHU), along with the future of the Apple (Nasdaq:AAPL) iPhone with them.

Ticonderoga said, "When Will China Telecom Have the iPhone? Our meeting with China Telecom highlighted the carrier's ambition to grow into the largest CDMA wireless carrier in the world next year, and we believe the company is well positioned to begin offering the Apple (Buy) iPhone in 2011. The company sounded optimistic around a recent low-cost mobile phone initiative that promoted mobile phones from ZTE d Huawei that were sold out in just 2-3 weeks. We continue to view Cogo (Nasdaq:COGO)(Buy) and Apple as attractive ways to play the Mobile Internet ramp in China.

"Long Wait for the iPhone 4 at China Unicom. Our meeting with China Unicom (NR) highlighted stronger than expected demand for the iPhone 4 that has resulted in the company's inability to fulfill approximately one-third of pre-orders. We estimate up to a 2-month wait period for the iPhone 4 in China with China Unicom, and orders have accelerated since October, while sales of the iPad are imminent, in our view.

"We Are Noticing an iPhone 4 Shortage in China. During our visits to Apple reseller stores in China over the past few days, we heard about shortages of the iPhone 4, 11-inch MacBook Air and certain versions of the iPad. The iPhone 4 is clearly the most difficult to purchase, with wait times hovering around 2 months. Most of the carriers agree that the high-end smartphone opportunity in China is approximately 100-125 million subscribers, which we view as the addressable market for the iPhone."

China Telecom closed Tuesday at $50.88, up by $0.28, or 0.55 percent. China Unicom ended the session at $13.82, up $0.29, or 2.14 percent.