China GrenTech won a bid to supply wireless network equipment to China Mobile , the world's largest mobile phone operator, for next year's Olympic Games, sending the Chinese wireless services company's shares up, a Reuters report said.
China GrenTech did not disclose the size of the contract, the Reuters report said.
However, Susquehanna Financial Group analyst Adele Mao estimated the potential contract value in the range of $1 million to $3.5 million, the report said.
In addition to supplying equipment, GrenTech will also help design and construct the Olympic wireless local-area network, the company said in a statement.
The network will be used to provide high-speed wireless Internet access for users and cover the Olympic gymnasiums, stadiums and surrounding areas in six Olympic cities, including Beijing, Tianjin, and Shanghai., the report said.