Sky-mobi Limited Forms Strategic Cooperation With SINA Corporation for Weibo on Mobile Handsets
October 24 2011 - 6:00AM
Sky-mobi Limited (Nasdaq:MOBI) ("Sky-mobi" or the "Company"), a
leading mobile application store and mobile social network
community operator in China, today announced that it has entered
into a strategic agreement with SINA Corporation (Nasdaq:SINA), a
leading online media company and mobile value-added service
("MVAS") provider for China and the global Chinese communities.
Under the terms of the agreement, SINA's microblog Weibo.com
will be made available as a downloadable application via the Maopao
application store and via technical plug-ins to Sky-Mobi's Maopao
mobile social network. Weibo.com is one of the most popular
social media sites in China.
The strategic partnership will make Weibo a core component of
Maopao Community, allowing Maopao users to use their existing
Maopao Community access to directly participate in all the fun
of Weibo, including posting, browsing, forwarding, commenting,
sharing and more. SINA will give Sky-mobi the exclusive rights to
promote Weibo products on Mediatek, Spreadtrum and M-Star based
mobile handsets.
"Weibo.com is literally the hottest social media in China and we
are thrilled to be a partner. Bringing the excitement of Weibo
microblogging to our Maopao platform means Ski-Mobi's millions of
users will have even more world-class media and entertainment
options from which to choose. It will be a win-win partnership
as mobile users are excellent microbloggers and we also anticipate
having Weibo will further increase the stickiness of our Maopao
users," Mr. Michael Song, Chairman and Chief Executive Officer of
Sky-mobi, stated.
"SINA is excited to partner with Sky-mobi and make Weibo.com
accessible from Maopao, one of the largest mobile communities in
China, further increasing Weibo.com's mobile user base," stated Mr.
Fei Gao, Vice President and General Manager, SINA Mobile.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. In some cases, you can identify
forward-looking statements by such terms as ''believes,''
''expects,'' ''anticipates,'' ''intends,'' ''estimates,'' the
negative of these terms, or other comparable terminology. Such
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those projected. Potential
risks and uncertainties include the effectiveness, profitability,
and marketability of the Company's solutions; the Company's limited
operating history; measures introduced by the PRC government and
mobile network operators aimed at the telecommunications industry
and mobile applications-related services; the Company's ability to
maintain cooperation relationships with handset companies, content
providers and payment service providers; its dependence on mobile
service providers, and ultimately mobile network operators, for the
collection of a substantial majority of its revenues; billing and
transmission failures, which are often beyond the Company's
control; its ability to compete effectively; its ability to capture
opportunities in the expected growth of the smart phone market; its
ability to obtain and maintain all applicable permits and
approvals; general economic and business conditions; the volatility
of the Company's operating results and financial condition; the
Company's ability to attract or retain qualified senior management
personnel and research and development staff; and other risks
detailed in the Company's filings with the Securities and Exchange
Commission. These forward-looking statements are based on current
expectations, assumptions, estimates and projections about the
Company and the industry. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law.
About Sky-mobi Limited:
Sky-mobi Limited operates the leading mobile application store
in China as measured by revenues in 2010, according to Analysys
International. The company works with handset companies to
pre-install its Maopao mobile application store on handsets and
with content providers to provide users with applications and
content titles. Users of its Maopao store can browse, download, and
enjoy a range of applications and content, such as single-player
games, mobile music, and books. The Company's Maopao store enables
mobile applications and content to be downloaded and run on various
mobile handsets with different hardware and operating system
configurations. The company also operates a mobile social network
community in China, the Maopao Community, where it offers mobile
social games, as well as applications and content with social
network functions to its registered members. The Company is based
in Hangzhou, the People's Republic of China. For more information,
please visit: www.sky-mobi.com.
The Sky-mobi Limited logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8458
About SINA
SINA Corporation (Nasdaq:SINA) is an online media company and
mobile value added service (MVAS) provider in China and for the
global Chinese communities. With a branded network of localized
websites targeting Greater China and overseas Chinese, the Company
provides services mainly through SINA.com (online news and
content), Weibo.com (microblog) and SINA Mobile (MVAS). Through
these businesses and properties and other business lines, SINA
offers an array of services including region-focused online
portals, microblog, blog, video and music streaming, photo sharing,
online games, email, search, classified listings, MVAS, fee-based
services, e-commerce and enterprise e-solutions. The Company
generates the majority of its revenues from online advertising and
MVAS offerings and, to a lesser extent, from fee-based
services.
CONTACT: Sky-mobi Limited
Mr. Carl Yeung, CFO
Phone: +(86) 571-87770978 (Hangzhou)
Email: ir@sky-mobi.com
CCG Investor Relations
Elaine Ketchmere, Partner and VP
Phone: +(1) 310-954-1345 (Los Angeles)
Email: elaine.ketchmere@ccgir.com
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