“For those analysts who have reduced their iPhone estimates in the past week — including a couple new ones today — the note Topeka Capital’s Brian White issued to clients Monday might serve as a wake-up call,” Philip Elmer-DeWitt reports for Fortune.

Total Chinese 3G subscribers: 176 million, up 118% year over year. Interestingly, China Mobile’s (CHL) share of the country’s 3G market actually fell. China Mobile is the world’s largest telephone company, but as White notes, it “is the only major carrier in China that does not have a relationship with Apple to sell the iPhone and we believe this is showing up in the company’s [monthly] 3G subscriber growth.”

Read more in the full article here.

[Thanks to MacDailyNews Reader "Dan K." for the heads up.]

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