Iqiyi Partners With China Unicom To Build 5G Center

Iqiyi Inc (NASDAQ:IQ) has partnered with China Unicom to build a joint research and development center for 5G terminal devices.

Iqiyi has been dubbed by some as being the "Netflix” of China. China Unicom is a Chinese state-owned telecom operator and the world's fourth-largest mobile service provider by subscriber base.

Iqiyi shares traded higher by 1% at $18.21 Wednesday morning. The stock has a 52-week high of $38.30 and a 52-week low of $14.35.

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