Webwire: iPhone profit worry for China Telecom; Verizon details job losses

A financial analyst warns China Telecom's bottom line could be impacted by subsidy costs for the iPhone 4S, which the company started selling on Friday.
US operator Verizon Wireless plans to shut down three of its 31 call centers in the nation. The closure will affect 3,175 employees, but they will be given a chance to relocate to the call centers that are remaining open.
ZTE has developed an Android smartphone for US operator Sprint that will retail for just $19.99 (€15.22) after a $50 rebate.
China's ICT ministry is drawing up rules and regulations covering private and overseas investment in the nation's telecom sector. Current laws restrict foreign investment in basic telecom services.
Apple will spend $304 million (€231 million) constructing a new office building in Texas, USA, and plans to increase its headcount in the state by 3,600 over the next decade.
Australia's Optus has lost an appeal against a fine imposed by courts for alleged misleading advertising of a broadband plan.