China Digital TV steams ahead
March 24, 2014
By Chris Forrester
Encryption specialists China Digital TV saw a huge rise in its NYSE share price at the end of last week. Indeed, on March 20th the price rose 9.7 per cent in the single session, and even after a modest fall-back on March 21st, the price was still significantly up on the start of the week (opened at $2.82, closed at $3.15). However, the March 20th price of $3.34 was still below the 12-month high of $3.69 achieved on February 21st.
The uptick came following on from news in February that it had agreed a tie up with Jishi Media, and the two are developing Cloud-based games and other concepts.
CEO Dong Li at the company’s February results said China now has some 171 million cable homes, and with 81.4 per cent of them receiving digital transmissions. China Digital supplies smart cards to more than 300 cable systems across mainland China (and about a 52 per cent market share).